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China's trade with top three partners down remarkably |
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17:01, June 12, 2009 |
Analysis of China's economic data in May - special
Foreign trade downturn weakens recovery
The EU, the US and Japan remained China's largest trading partners for the first five months of the year. However, bilateral trade between China and those three partners went down notably during that period.
The EU continued to be China's largest trading partner. The China-EU bilateral trade valued 129.26 billion USD from January to May, a decline of 22.1 percent over the same period last year. .
The US was China's second largest trading partner. Sino-US bilateral trade value reached 108.25 billion USD, down by 17.1 percent.
Japan remains the third largest trading partner. Bilateral trade value was 80.37 billion USD, down by 24.6 percent.
In addition, the total value of import and export between China and ASEAN was registered at 70.84 billion USD, declining by 25.9 percent.
Import and export between the Chinese Mainland and Hong Kong reached 59.59 billion USD, a decrease of 25.5%.
Import and export value between China and India stood at 16.44 billion USD, plunging 31.9 percent.
The import and export of general trade showed a better situation than the overall picture. Customs statistics show that in the first 5 months of this year, the import and export value of China's general trade reached 374.11 billion USD, decreasing by 23.4 percent, which was 1.3 percentage points smaller than the decline of the import and export of overall trade over the same period.
Export in general trade was 193.36 billion USD, down by 22.1%, while import reached 180.75 billion USD, down by 24.8 percent. The decline in imports was 7.3 percentage points smaller than that of the processing trade over the same period.
In the fist five months, export for the processing trade stood at 308.32 billion USD, plummeting 26.8 percent.
By People's Daily Online
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