CHINA'S IMPORT AND EXPORT VALUE JUMPS 42.8 PERCENT IN MARCH
In the first quarter of 2010, China’s cumulative import and export value jumped 44.1 percent from 2009, and 8.2 percent from the same period in 2008. During this time, the European Union remained the primary trade partner with China.
Posted: May 4, 2010
From January through March 2010, China's foreign trade maintained a positive growth trend. The accumulative import and export value reached $617.85 billion, a jump of 44.1 percent from 2009, and 8.2 percent from the same period in 2008. The export value reached $316.17 billion, an increase of 28.7 percent year over year; the import value reached $301.68 billion, a jump of 64.6 percent year over year. The accumulative surplus in trade reached $14.49 billion, a drop of 76.7 percent year over year.
From January to March 2010, the growth of general trade was higher than the overall growth, and the value of processing trade experienced rapid growth. The import and export value of general trade jumped to $309.68 billion, an increase of 47.9 percent year over year. Of this, the export value reached $141.31 billion, an increase of 26.6 percent; the import value reached $168.37 billion, a jump of 72.2 percent year over year. The import and export value of processing trade jumped to $240.51 billion, an increase of 38.5 percent year over year. Of this, the export value reached $151.69 billion, an increase of 29.8 percent; the import value reached $88.82 billion, a jump of 56.3 percent year over year.
From January to March 2010, the European Union remained the primary trade partner with China, and the bilateral trade value between China and the EU reached $101.47 billion, an increase of 35.1 percent year over year. The trade value with the United States reached $78.11 billion, an increase of 25.8 percent year over year. The bilateral trade value with Japan reached $63.61 billion, an increase of 38.2 percent year over year. Bilateral trade with the Association of Southeast Asian Nations jumped to $62.91 billion, an increase of 61.3 percent year over year.
From January to March 2010, the import volume of major bulk commodities showed an increase, with an obvious rise in the average price. Iron ore reached 160 million metric tons, an increase of 18 percent year over year, and the average price was $96.3 per ton, up 20.7 percent year over year. The import of soya reached 11.04 million metric tons, an increase of 8.7 percent year over year, and the average price was $456.9 per ton, up 15.1 percent.
From January to March 2010, the import value of mechanical and electrical products reached $137.76 billion, a jump of 49.8 percent. Of this, the import of vehicles reached 179,000 units, an increase of 170 percent.
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