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Foreign trade whisker short of US$ 2 trillion mark
14
Oct '08
According to data released by the General Administration of Customs on October 13, for the period January to September this year, China's foreign trade stood at US $1.9671 trillion, a year-on-year increase of 25.2 percent.

Of the above figure, exports registered US $1.074 trillion, up 22.3 percent and imports touched 893.1 billion, an increase of 29 percent. Total trade surplus totaled to $180.9 billion, down 2.6 percent.

Customs statistics reveal that in September, China's combined import and export value scored $243.5 billion, an increase of 21.4 percent. Individually, exports fetched $136.4 billion, up 21.5 percent and imports grew to $107.1 billion, up 21.3 percent.

According to customs statistics, in the first nine months, imports and exports by foreign-funded enterprises amounted to $1.0805 trillion, accounting for 54.9 percent of China's total import and export value over the same period.

Among major trading partners of China's bilateral trade, the growth of bilateral trade with the United States showed a slowdown, but bilateral trade with India showed rapid growth.

In the first nine months, Sino-Indian bilateral trade value reached $42.05 billion, an increase of 54.9 percent. The growth rate ranked first place among top ten of China's trading partners.

In export of commodities, most of China's traditional commodities fell in growth rates. Among them, exports of clothing and accessories reached $87.08 billion, an increase of 1.8 percent but down 21.2 percent from the growth rate of the same time last year.

Exports of textile yarn, fabrics and finished products touched $49.86 billion, an increase of 21.3 percent, up 7.1 points from last year. Footwear exports on the other hand increased by 15.1 percent to reach $22.08 billion but down by 1.7 percent in growth rate from last year.

Fibre2fashion News Desk - China

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