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Import & export trade continues to improve

13
Aug '09
From January to July this year, China's foreign trade of imports and exports realized US $1146.71 billion in total, down 22.7 percent from the same period last year.

Of which, exports stood at $627.1 billion, down 22 percent and imports touched $519.61 billion, down 23.6 percent, realizing an accumulated trade surplus of $107.49 billion, also down 12.4 percent.

Customs statistics reveal that total value of China's foreign trade for imports and exports reached US $200.21 billion in the month of July, down 19.4 percent year-on-year, but up 9.6 percent from the previous month.

Of this, export value exceeded $100 billion for the first time in this year to $105.42 billion, down 23 percent year-on-year, but up 10.4 percent from the previous month; imports registered $94.79 billion, down 14.9 percent year-on-year, but up 8.7 percent from the previous month.

This shows that China's foreign trade has established a trend of picking up on a month to month basis as it has begun to rebound since five consecutive months since March, after continued decline for five months starting from last October.

Among major trading partners, the European Union continued to be China's largest trading partner. In the first seven months, China-EU bilateral trade value reached $192.73 billion, down 20.7 percent year-on-year.

Over the same period, the United States was China's second largest trading partner; Sino-US bilateral trade value scored $158.68 billion, down 16.1 percent year-on-year. Japan was China's third largest trading partner, as of the end of July this year, bilateral trade between China and Japan realized $119.9 billion, down 22.6 percent.

In addition, in the first 7 months this year, China's import and export value with ASEAN achieved $107.43 billion, down 22.4 percent year-on-year; import and export trade between the Mainland and Hong Kong fetched $88.68 billion, down 23.6 percent.

China's import and export trade with India came to $23.39 billion, down 30.2 percent. Among the top 10 largest trading partners, decline in China's imports and exports with Australia were the smallest at 8.6 percent, of which, imports fell only 5.2 percent.

On export side, exports of labor-intensive products saw a single-digit decline. According to customs statistics, from January to July, exports of clothing and accessories marked $56.93 billion, down 9.1 percent year-on-year.

Exports of footwear stood at $15.71 billion, down 5.2 percent year-on-year; furniture exports indicated $13.75 billion, down 9.8 percent year-on-year; exports of plastic products completed $7.82 billion, down 7 percent.

Over the same period, China's exports of machinery and electronic products scored US $367.71 billion, down 20.8 percent year-on-year.

On import side, iron ore imports recorded 360 million tons, an increase of 31.8 percent; crude oil imports registered 110 million tons, an increase of 5.8 percent; soybean imports marked 26.48 million tons, an increase of 27.7 percent.

Plastics in primary forms touched 13.83 million tons, an increase of 26.6 percent; imports of non-forged copper and copper were 2,643,000 tons, an increase of 75 percent.

Fibre2fashion News Desk - China


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