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China's foreign trade up by 24 percent in first four months
Latest Updated by 2006-05-16 11:45:25
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China's foreign trade up by 24 percent in first four months

China's foreign trade value soared 24 percent to reach 514.72 billion US dollars in the first four months of this year, according to statistics from the General Administration of Customs (GAC).

In the four months, China's total export value reached 274.24 billion US dollars, up 25.8 percent over the corresponding period of last year and import value totaled 240.48 billion US dollars, an increase of 22.1 percent.

In April alone, the foreign trade value grew 19.8 percent to 143.44 billion US dollars. Exports came to 76.95 billion US dollars, up 23.9 percent, while imports surged by 15.3 percent to 66.49 billion US dollars.

The GAC statistics show China witnessed a rapid growth in general trade and a strong growth in processing trade in the first four months.??

From January to April, China's general trade volume amounted to 218.38 billion US dollars, a rise of 22.1 percent. Exports increased by 24.5 percent to 114.89 billion US dollars and imports rose 19.5 percent to 103.49 billion US dollars.

During the same period, processing trade volume reached 245.46 billion US dollars, up 24.9 percent. Exports jumped by 25.9 percent to 148.14 billion US dollars and imports increased by 23.3 percent to 97.32 billion US dollars.

During January-April period, the European Union continued to be China's No.1 trade partner with bilateral trade volume coming to 78.62 billion US dollars, up 20.5 percent.

The United States remains China's second largest trade partner with trade volume with China reaching 77.29 billion US dollars, an increase of 26.2 percent.

Japan is still China's third largest trade partner, its trade with China totaled 64.12 billion US dollars, a rise of 11.5 percent.

In addition, China's bilateral trade with the ASEAN grew 22 percent to 47.06 US dollars.

Machinery and electronics products remain the major driving force of China's exports with the volume jumping by 32.7 percent to reach 158.72 billion US dollars.

In imports, China saw a slight increase in refined oil and soybean, but a sharp decrease in steel.

Editor: Yan

By: Source: People's Daily website
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