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China's trade value up 26pc, surpasses US$1 trillion in five months

2008-7-4

STATISTICS from the China Customs show that during the first five months of this year, China's foreign trade value increased 26.2 per cent over the same period last year to US$1.01 trillion.

Export value increased 23 per cent to $545.1 billion while import value increased 30.4 per cent to $467 billion, generating a trade surplus of $78 billion, down 8.6 per cent.

European Union was the largest trade partner of China. Bilateral trade with EU rose 27.9 per cent in value to $166 billion. US were the second with a bilateral trade value of $130 billion, up 13.3 per cent. Japan was the third. Value of trade with Japan climbed 16.8 per cent up to $106.6 billion.

India was the fastest growing among all trade partners of China. Trade with India surged 70.3 per cent to $24.2 billion, making it the eighth largest trade partner of China.

Guangdong province contributed the most to China's trade value. The province's foreign trade value during this period increased 15 per cent to $266.3 billion, taking up 26.3 per cent in country's total. Jiangsu province was the second, with a trade value of $159 billion, up 21.3 per cent. Shanghai was the third with its trade value rising 23.7 per cent to $131.3 billion. Beijing was the fourth. Its trade value soared 53.5 per cent to $110 billion.

In the month of May, China's trade value increased 33.2 per cent year on year to $220.8 billion. Export value increased 28 per cent to $120.5 billion while import jumped 40 per cent to $100.3 billion, generating a trade surplus of $2.2 billion, down 9.9 per cent.

 
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