Home > Financial Crisis > Financial News
China's Foreign Trade Tops $2.56 Trillion in Value, But Slows in 2008
[2009-02-11 11:05:50]
China's foreign trade topped 2.56 trillion U.S. dollars in value in 2008, but the year-on-year growth rate dropped below 20 percent for the first time in seven years, according to the General Administration of Customs.
The total value was up 17.8 percent compared with 2007, but the growth rate was down 5.7 percentage points.
Exports were up 17.2 percent to 1.43 trillion U.S. dollars and imports up 18.5 percent to 1.13 trillion U.S. dollars, but the annual export growth rate slowed by 8.5 and imports by 2.3 percentage points.
The trade surplus stood at 295.47 billion U.S. dollars, up 12.5percent, according to the administration.
The European Union remained China's biggest trade partner with bilateral trade totaling 425.58 billion U.S. dollars, up 19.5 percent, and 9 percentage points higher than trade between China and its second main trade partner, the United States.
Sino-U.S. bilateral trade totaled 333.74 billion U.S. dollars, the smallest increase since China joined the World Trade Organization seven years ago, customs figures show.
Japan remained the third largest trade partner of China and the bilateral trade volume rose 13 percent year on year to hit 266.78 billion U.S. dollars last year.
Trade between China and India, the 10th largest trade partner of China, was up 34 percent at 51.78 billion U.S. dollars, but 21.5 percentage points down from a year ago.
Source: Xinhua
The total value was up 17.8 percent compared with 2007, but the growth rate was down 5.7 percentage points.
Exports were up 17.2 percent to 1.43 trillion U.S. dollars and imports up 18.5 percent to 1.13 trillion U.S. dollars, but the annual export growth rate slowed by 8.5 and imports by 2.3 percentage points.
The trade surplus stood at 295.47 billion U.S. dollars, up 12.5percent, according to the administration.
The European Union remained China's biggest trade partner with bilateral trade totaling 425.58 billion U.S. dollars, up 19.5 percent, and 9 percentage points higher than trade between China and its second main trade partner, the United States.
Sino-U.S. bilateral trade totaled 333.74 billion U.S. dollars, the smallest increase since China joined the World Trade Organization seven years ago, customs figures show.
Japan remained the third largest trade partner of China and the bilateral trade volume rose 13 percent year on year to hit 266.78 billion U.S. dollars last year.
Trade between China and India, the 10th largest trade partner of China, was up 34 percent at 51.78 billion U.S. dollars, but 21.5 percentage points down from a year ago.
Source: Xinhua
Related Articles:
Most Read
- Profits in China's State Firms Fall 17.6% in First 9 Months
(2009-10-20) - China Can Build ′Green Economy′ by 2030
(2009-03-02) - Dollar Mixed as Investors Waiting for European Rate Decision, U.S. Job Report
(2009-04-02) - Dollar Rises Against Major Currencies
(2009-01-15) - PM: Japan to Provide $17 Bln for Asian Countries to Boost Growth
(2009-02-01) - Assets of Foreign Banks in China Up 7.37% in 2008
(2009-03-16) - Medvedev Lauds Gov't's Efforts to Handle Economic Crisis
(2009-09-10) - Chinese Shares Sink 4.7% on Investors' Economic Concerns, Regional Losses
(2009-02-19) - US Firms Upbeat about China
(2009-05-13) - HSBC: China's Economic Growth Likely Back to Well Over 8% in Q2
(2009-01-19)
Related Photos
 |
Jobs Increase in Second Quarter |
|
Chinese Shares Hit one-year High, Driven by Heavy Weights |
|
Uncertainty Overshadows FDI into China - Special |
|
US Firms Upbeat about China |
|
Power Output Dip Seen for April |
|
Spending on Core Sector Up |
|
China's Foreign Reserves Hit $1.95 Trillion at End of March |
|
China's Feb. Trade Worst in Decade as Global Downturn Deepens |
|
Chinese Banks Profit up 30.6% in 2008 |
