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China's imports & exports surge in August
13
Sep '11
China's imports and exports surged in August 2011, performing better than expected, according to the latest Customs data.

The value of China's foreign trade increased to US$ 328.87 billion in the month of August, registering a year-on-year increase of 27.1 percent. Of these, exports accounted for US$ 173.31 billion, showing a year-on-year rise of 24.5 percent.

Imports, during the month, grew to US$ 155.56 billion, up 30.2 percent year-on-year. This figure surpassed the previous record of US$ 152.26 billion set in March 2011.

In spite of recession in some of the western countries, both imports and exports were better than expected, indicating the robustness of Chinese economy. Experts say, to some extent, this would ease the apprehensions of domestic industry regarding economic slowdown in the country.

During the January-August period of the current year, China's foreign trade value touched US$ 2.352 trillion, an increase of 25.4 percent over the corresponding period of 2010. Of these, imports accounted for US$ 1.129 trillion, up 27.5 percent year-on-year, while exports contributed US$ 1.222 trillion, up 23.6 percent year-on-year. Thus, the country registered a trade surplus of US$ 92.73 billion, which is a 10 percent year-on-year decline.

Fibre2fashion News Desk - China

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