China's H1 trade surplus down 18.2%
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Xinhua, July 10, 2011
China's trade surplus in the first half of this year fell 18.2 percent from a year ago to reach 44.93 billion U.S. dollars, the General Administration of Customs (GAC) said on Sunday.
During the same period, total foreign trade value topped 1.7 trillion U.S. dollars, up 25.8 percent year-on-year, with exports up 24 percent to reach 874.3 billion U.S. dollars and imports surging 27.6 percent to hit 829.37 billion U.S. dollars.
In June, exports and imports reached 301.69 billion U.S. dollars in value, up 18.5 percent year-on-year. June's trade surplus stood at 22.27 billion U.S. dollars, up 10.3 percent year on year. It also jumped from 13.05 billion U.S. dollars in May.
In breakdown, June's exports hit a record monthly high of 161.98 billion U.S. dollars, up 17.9 percent, but the rate of growth decelerated from the 19.4-percent increase in May.
Imports reached 139.71 billion U.S. dollars, up 19.3 percent. The growth also slowed from the 28.4-percent increase in May, according to figures that on the GAC's website Sunday.
GAC spokesman Zhao Fudi said it marks the first time for China's export and import data to be published online. "It will make our figures release more timely, open, and transparent, and also promote online exchanges between us and the public," Zhao said.
In the first six months, China's exports to its two largest trading partners, namely the EU and the United States, both grew 16.9 percent to reach 164.48 billion U.S. dollars and 145.51 billion U.S. dollars, respectively.
The pace of growth was significantly slower than the average 24-percent average growth of the nation's exports, as these developed economies are in a sluggish state, Zhao said.
The ASEAN's (Association of Southeast Asian Nations) bilateral trade with China grew 25.4 percent to 171.12 billion U.S. dollars, overtaking Japan as the country's third largest trading partner in the first half. Trade between China and Japan rose 19 percent to 162.35 billion U.S. dollars.
China's Guangdong Province remained the country's top trade powerhouse, accounting for more than one fourth of the nation's total trade volume. It was followed by Jiangsu Province and Shanghai Municipality.
