Trade surplus concentrates in three areas

06 Feb '07

2 min read

In June 2006, China registered record-high trade surplus of US $14.5 billion. This pushed the January-June trade surplus amount to $61.45 billion, an increase of 54.9 percent over the same period of the previous year.

Vice Minister of Commerce Yu Guangzhou said on January 28 at '2007 Enterprise Development Forum at High-Level that China's trade surplus of $177.5 billion in 2006 was mainly concentrated in three areas.

In regional terms, the EU, the US and Hong Kong were chief trade surplus earners. In 2006, China's trade surplus with the three regions was more than $380 billion, of which, the trade surplus with US exceeded $140 billion, and trade surplus with EU was over $90 billion.

Japan, South Korea, ASEAN were the main sources of trade deficit.

The trade surplus was concentrated in the processing industry. China's processing industry achieved nearly $190 billion of trade surplus in 2006, an increase of more than $40 billion over the previous year.

From trade entities, surplus was mainly concentrated in non-state-owned enterprises, private and foreign-funded enterprises. In 2006, private enterprises achieved a trade surplus over $120 billion, foreign-funded enterprises obtained more than $90 billion of trade surplus, while state-owned enterprises suffered a trade deficit of more than $33 billion.

Yu Guangzhou said that China would increase imports, optimize the structure of export products, and expand overseas investment, expand consumption so to ease trade surplus.

Fibre2fashion, News Desk - China

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