Export growth marks notable slowdown in 2008

14 Nov '08

2 min read

According to the export data announced by China General Administration of Customs recently, in the first ten months of this year exports of the country reached over US $1.20 trillion, up 21.9 percent year-on-year. However, this marked a fall of 4.6 percentage points in growth-rate as compared to same time last year.

Statistics showed, China's exports registered $128.33 billion in October, up 19.2 percent, but growth-rate declined 3.1 percentage points from the same period last year. This also recorded 2.3 percentage points slide from that of September.

In the first 10 months, while general trade exports of China amounted to $557.8 billion, registering year-on-year rise of 26.9 percent, that of processing trade indicated $570.9 billion, an increase of 14.8 percent.

During the period, exports of machinery and equipment were $225.63 billion, a boost of 22.4 percent, as compared to same period last year.

In the first 10 months, export growth of traditional bulk commodities slowed down. Among them, exports of clothing and accessories stood at $98.27 billion, a year-on-year augment of 2.8 percent. Exports of textile yarn, fabrics and apparel recorded at $55.42 billion, up 20.6 percent.

Meanwhile, during January-October this year footwear exports registered $24.45 billion, a surge of 16.3 percent as against the same period of 2007.

Fibre2fashion, News Desk - China

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