China's total trade volume hit US$851.2 billion last year

Customs statistics show that in 2003 China's total import/export worth reached 851.21 billion US dollars, rising 230.4 billion dollars, or 37.1 percent up over the previous year, being the year of fastest growth since 1980. The import/export scales both exceeded 400 billion dollars and brought a whole-year trade surplus of 25.53 billion dollars.

Statistics show that in 2003 China exported a worth of 438.37 billion dollars, up 34.6 percent, and imported a worth of 412.84 billion dollars, up 39.9 percent. The total import/export value of December reached 90.4 billion dollars, hitting a monthly historical record and bringing a trade surplus of 5.72 billion dollars.

Although the domestic tertiary industry suffered much loss during the first half due to the SARS epidemic, the whole-year export maintained a momentum of high-speed growth. The accumulative export growth stayed above 30 percent throughout the year and since September monthly export surpassed 40 billion dollars until the yearend, which turned out as high as 48.06 billion dollars in December.

In 2003 China's general import/export stood at 369.74 billion dollars, up 39.4 percent; during the same period the import/export of processing trade registered at 404.79 billion dollars, up 34 percent, or 47.6 percent of the import/export total value of the year.

Statistics also showed that China enjoyed in 2003 overall fast-speed growth in bilateral trade with its major trade partners. The bilateral trade volume with Japan, the United States and EU all exceeded 100 billion dollars, being the first time with the US and EU. Japan has been China's biggest trade partner for 11 successive years, and the total volume of China-Japan trade grew by 31.1 percent. Bilateral trade with the US increased by 30 percent and with EU 44.4 percent. Meanwhile, China also achieved a growth rate over 20 percent with other major trade partners, and those with ASEAN and ROK both exceeded 40 percent.

Among 2003 exported commodities half was taken by mechanical and electrical products, and traditional staple product enjoyed good export trend; among imported commodities, much growth was brought by primary products and steel, car were also hot for import.

By People's Daily Online



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