China's Foreign Trade Surged 39 Percent in First Half Year

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Last updated at: (Beijing Time) Friday, July 11, 2003

China's Foreign Trade Surged 39 Percent in First Half Year

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China's foreign trade turnover reached 376.14 billion US dollars in the first half of the year, up 39 percent over the same period last year, according to statistics released by the General Administration of Customs Friday.

Overall exports reached 190.32 billion US dollars, up 34 percent, and total imports were valued at 185.82 billion US dollars, up 44.5 percent. The trade surplus added up to 4.5 billion US dollars.

Foreign trade volume in the month of June was up to 66.81 billion US dollars, up 36.1 percent, including 34.48 billion US dollars of exports and 32.33 billion US dollars of imports, up 32.6 percent and 40.1 percent respectively.

China's trade with its main trading partners has maintained good growth for the first six months, according to the figures.

The trade volume with Japan, China's largest trading partner, hit 60.91 billion US dollars, up 36.1 percent.

Trade between China and the United States reached 56.4 billion US dollars, up 34.4 percent, making the United States China's second largest trading partner.

China's trade with Europe, China's third largest trading partner next to Japan and the United States, hit 55.51 billions US dollars, up 44.2 percent.

The trade between China and its other main trade partners also recorded an average increase of more than 20 percent, including an increase of 40 percent for the trade with the Association of Southeast Asian Nations and Republic of Korea.

For the first half of this year, the exports of machinery and electronic goods amounted to 96.29 billion US dollars, up 41.5 percent, accounting for 50.6 percent of the total exports.

During the same period, the imports for primary goods reached 33.82 billion US dollars, up 60.2 percent.

China imported 43.80 million tons of crude oil, up 32.8 percent. Its imported 12.68 million tons refined oil, up 59.75 percent, 72.48 million tons iron ore, up 42 percent, and 1.97 million tons edible oil, up 110 percent.

In the meantime, the imports of manufactured products rose to 152 billion US dollars, up 41.4 percent.

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