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Foreign trade value records a miraculous growth
11
Sep '08
According to customs statistics, in the period between January and August this year, China's foreign trade import and export value reached US $1.72 trillion, a growth of 25.7 percent over the same period last year.

Of this, exports registered US $937.69 billion marking an increase of 22.4 percent and imports reached $785.69 billion, an increase of 30 percent. Cumulative trade surplus touched US $151.99 billion, a decline of $10.08 billion or 6.2 percent.

Statistics also revealed that China's total import and export in August totaled $241.05 billion representing an increase of 22 percent. While exports for the month touched $134.87 billion, a rise of 21.1 percent, imports in the period was recorded at $106.18 billion, an increase of 23.1 percent.

In the first eight months, EU emerged to be the largest trading partner of China with bilateral trade value touching $283.32 billion, an increase of 26.9 percent. This was higher than the Sino-US and Sino-Japan bilateral trade values achieved over the same period which recorded growth rates of 13.6 and 8.5 percent respectively.

US stood at second place in the list of largest trading partners with trade value reaching $219.7 billion, up 13.3 percent, but down 3.1 percentage points in growth rate from the same time last year.

US was followed by Japan at the third position with two-way trade amounting to $178.07 billion, an increase of 18.4 percent. India stood ninth in the list contributing to a bilateral trade value of $37.86 billion, an increase of 59.1 percent, and came out topper amongst the 10 largest trading partners in growth rate.

Fibre2fashion News Desk - China

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