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Overall exports from general & processing trade surges in 2008
17
Jan '09
China once again reiterated its leadership position as the industrial powerhouse and export hub of the globe and was able to clock unimaginable growth rates, in face of the most severe economic crisis which has enveloped the economies of most countries in the world in the last few months.

Total imports and exports of general trade in 2008 recorded US $1235.26 billion, representing a year-on-year increase of 27.6 percent, according to data provided by the General Administration of Customs, of which, exports reached $662.58 billion, up 22.9 percent and imports fetched $572.68 billion, up 33.6 percent.

Over the same period, imports and exports of processing trade achieved $1053.59 billion, a year-on-year increase of 6.8 percent, out of which, exports scored $675.18 billion, up 9.3 percent; imports touched $378.4 billion, an increase of 2.7 percent.

Among them, imports and exports of foreign-invested enterprises in 2008 completed $1410.58 billion, a year-on-year rise of 12.4 percent and over the same period, imports and exports of state-owned enterprises registered $611.04 billion, up 23.5 percent, a gain of 3.7 percent over the previous year.

Experts believe, in accordance with last year's data and the current global market situation, China's exports will face a lot of downward pressure in the first half of this year. It is estimated that global prices will firm up and capital flight will come to an end in the second half and export situation will show signs of rebound.

Fibre2fashion News Desk - China

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