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China's electronics trade slows in first 11 months of 2008

By Wang Xing (chinadaily.com.cn)
Updated: 2009-01-05 15:43

China's imports and exports of electronic products grew to $824.2 billion in the first 11 months of 2008, a 13.3 percent rise from a year earlier, down 10 percentage points from the growth rate of the same period in 2007, official figures showed.

Electronic exports grew 16.8 percent to $484.2 billion during the period, accounting for 36.8 percent of the country's total exports. The imports of electronic products grew only 8.63 percent to $340 billion, down from 20.33 percent in 2007, according to figures released by the Ministry of Industry and Information Technology (MIIT).

Both the exports and imports of electronics recorded slower growth than China's average trade growth in the period, according to MIIT.

Exports by foreign firms in China increased 15.55 percent to $322.65 billion in the first eleven months of 2008, taking up 66.6 percent of the country's electronic exports. But the growth rate is down from 27.55 percent in 2007, as multinationals were worst hit by the global economic slowdown.

Laptops, mobile handsets and integrated circuits are China's top three export products.