Text Version
RSS Feeds
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  -Text Version
  -RSS Feeds
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
Volatile dollar drains China's export profit
+ -
17:20, August 25, 2009

 Related News
 China's foreign contracted projects ease export slowdown by 2 percentage points
 Export decline key hurdle for recovery: official
 China's textile export declines in July as demand shrinks
 Domestic export value of HK falls 41% in five industries
 Export dip in key sector
 Comment  Tell A Friend
 Print Format  Save Article
In the first half of 2009, the average profit margin made by China's exporters was just 1.5 percent, down 6.2 percent year-on-year, said Xu Jia'ai, deputy director-general of the Department of Finance under the Ministry of Commerce (MOFCOM).

Xu said that this year China's foreign trade is facing a grim situation. This is mainly due to shrinking foreign demand. However, sharp fluctuations in the U.S. dollar and other main settlement currencies used in international trade are also an important factor.

Since the beginning of this year, U.S. dollar exchange rate's severe fluctuations have significantly increased uncertainty in China's foreign trade and increased risks for China's exporters. Some foreign trade enterprises that chose the wrong settlement currency have suffered a significant amount of exchange rate losses, severely impacting their profits.

Between January and July, the total value of China's imports and exports reached 1.15 trillion U.S. dollars, down by 22.7 percent year-on-year. Of this, exports reached 627.1 billion U.S. dollars, down by 22 percent year-on-year; and imports reached 519.62 billion U.S. dollars, down by 23.6 percent year-on-year.

By People's Daily Online

  Your Message:   Most Commented:
Being African among the curious Chinese
Australia's permission for Rebiya's visit chills bilateral ties
Three Beijingers jailed in US. Spies again?
25-year-old Norwegian singer, Michael Jackson's 4th son?
What does China contribute to the world?

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved