Trade Figures for November Show Substantial Growth, Record Highs

The General Administration of Customs has published data on imports and exports during the first eleven months of 2010. According to the General Administration of Customs, exports reached 1.42 trillion US dollars, a year-on-year growth of 36.3 percent, while imports grew 40.3 percent to 1.25 trillion US dollars.

In November, exports showed a year-on-year growth of 36.2 percent and quarter-on-quarter growth of 15.9 percent to 0.28 trillion US dollars, hitting a record high of 0.27 trillion US dollars in September.

The total value of Sino-European bilateral trade jumped to 0.43 trillion US dollars, up 33.1 percent and Sino-US trade reached 0.35 trillion US dollars, a year upon year growth of 30.2 percent. In the same period, the total value of Sino-Japanese bilateral trade climbed 24.9 percent to 1.09 US dollars; the trade deficit with Japan reached 49.6 billion US dollars. 

The total value of bilateral trade between China and the Association of Southeast Asian Nations grew 40.6 percent to 0.26 trillion US dollars.

83.2 percent of China's total import export value came from seven provinces and the cities of Guangdong, Jiangsu, Shanghai, Beijing, Zhejiang, Shandong, and Fujian.

Central and eastern areas saw dramatic gains in foreign trade in the first eleven months, among which Gansu Province hit a record trade high of 6.63 billion US dollars, 66.3 percent higher than the average national growth rate of the same period. The Tibetan Autonomous Region, Yunnan Province and Jiangxi Province respectively registered an increase of 94, 78.5 and 67.1 percent to 0.69, 12.1 and 18.59 billion US dollars, 57.7, 42.2 and 30.8 percent higher, respectively, than the average national growth rate of last year.

According to the report, the General Administration of Customs claims that trade surpluses came mainly from foreign-funded enterprises and that the exports and imports of private enterprises saw rapid growth. The exports and imports of foreign-funded enterprises rose by 33.1 percent to 1.45 trillion US dollars and private enterprises registered a hike of 48.1 percent to 0.67 trillion US dollars, up 11.8 percent from the national average growth rate at the same period.

Exports of mechanical and electrical products showed a rise of 32.7 percent, representing 59.2 percent of the total export value of the first eleven months. In addition, the volume of clothing exported reached 69.7 billion US dollars, representing an increase of 21.2 percent.

Imports of iron ore fell by 0.9 percent to 0.56 billion ton with an average import price increase of 59.7 percent to 126.4 US dollars per ton. Imports of raw plastics showed an increase of 0.2 percent, soy beans an increase of 30.7 percent, mechanical and electrical products 36.6 percent, while steel imports saw a decline of 7 percent.

This article was edited by Ruoji Tang

Links and Sources
General Administration of Customs Official Website

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