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Foreign trade sees a significant growth in Q1

18
Apr '08

According to Customs Statistics, in the first quarter of 2008, imports and exports of China, in general trade experienced an boost of 35.4 percent by reaching nearly US $270.53 billion.

From the total, exports fetched $136.63 billion, a rise of 26.4 percent, however it decreased 5.5 percentage points from the increase that was experienced in 2007. On the other hand, the country imported goods worth $133.9 billion, depicting a rise of 46.1 percent, 23.5 percentage points greater than the Q1 of 2007 creating a trade surplus of $2.73 billion.

Over the same period, export growth of processing trade dropped significantly. In the first quarter, imports and exports stood for $241.15 billion, an increase of 14 percent, a drop of 4.8 percentage points when compared to same period last year.

Out of which, exports generated revenue of around $152.65 billion, a slight growth of 14.8 percent, but 9.2 percentage points lower than the same time of 2007. The country imported items worth $88.5 billion, a rise of 12.6 percent, and 1.7 percentage points higher than the same period last year.

In the first quarter,import and export trade growth of foreign-invested enterprises remained stable and the same for state-owned enterprises showed a strong growth.

In the first quarter, revenue earned by foreign-invested enterprises reached almost $320.5 billion, an increase of 18.8 percent, accounting for 56.2 percent of the total trade value, however a fall of 2.8 percentage points can be observed from the same time last year.

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