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Cotton becomes China's major import item from Uzbekistan
Aug '12
Uzbek cotton has major market in China and its imports now constitute a major share of all the items imported by China from Uzbekistan.
During the first half of the current year, China imported 185,000 tons of Uzbek cotton worth US$ 440 million, showing an increase of 47.37 percent year-on-year, according to Chinese customs statistics.
Cotton accounted for 85.54 percent share of all Chinese imports from Uzbekistan during January-June 2012 period.
The bilateral trade volume between the two countries touched US$ 1.386 billion during the six-month period, showing a rise of 42.27 percent year-on-year.
China exported goods worth US$ 873 million, posting a growth of 41.14 percent year-on-year, to Uzbekistan during the period under review.
China’s imports from Uzbekistan were valued at US$ 513 million, registering an increase of 44.25 percent y-o-y.
Thus, China had a trade surplus of US$ 360 million with Uzbekistan.
If the bilateral trade continues to grow at the same pace during the remaining months, China-Uzbekistan bilateral trade is expected to cross the US$ 3 billion mark in 2012.

Fibre2fashion News Desk - China

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