China Becomes World's 6th Largest Foreign Trader

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Last updated at: (Beijing Time) Friday, May 10, 2002

China Becomes World's 6th Largest Foreign Trader

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China has edged one step forward to become the world's 6th largest trading nation, the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) said in a press release, quoting figures issued by the World Trade Organization (WTO).

China's total goods imports and exports in 2001 reached 509.8 billion U.S. dollars, with exports at 266.2 billion U.S. dollars and imports 243.6 billion U.S. dollars. The imports and exports both stood in sixth position among the top 10 trading nations of the world.

The United States, Germany, Japan, France and Britain were the five countries whose trade volume surpassed China's last year. However, China has outrun Canada, Italy, the Netherlands and Hong Kong.

Total world exports last year added up to 6,162.4 billion U.S. dollars, down 4.1 percent from 2000 while total imports declined 3.9 percent to 6,438.8 billion U.S. dollars.

The total world trade volume last year experienced its biggest drop since 1982, due to global economic slowdown.

China's foreign trade volume ranked the 11th in 1998, and 10th in 1999.

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