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Country to close 2008 with record foreign exchange reserves

17
Dec '08
In November, China's total foreign trade volume reached US $189.89 billion, down 9 percent year-on-year, of which, exports were $114.99 billion, down 2.2 percent and imports $74.9 billion, down 17.9 percent.

This is the first negative growth for import and export indexes since 2000. In November foreign trade surplus touched $40.090 billion, an increase of 52.3 percent and the growth rate was 22.5 percent higher than September, a record high.

From January to November, imports and exports totaled $2.37 trillion, an increase of 20.9 percent, of which exports were $1.31 trillion, up 19.3 percent while imports were $1.06 trillion, up 22.8 percent. Accumulated trade surplus marked $255.950 billion, an increase of 6.8 percent.

Total foreign trade volume in 2008 is expected to exceed $2.500 trillion, an increase of more than 15% while annual surplus is expected to be over $280 billion and growing by $18 billion over that of 2007.

Fibre2fashion News Desk - China


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