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Sino-US trade up 10.5% in 2008, slowest since 2001

(Xinhua)
Updated: 2009-02-06 15:12

China-US bilateral trade expanded 10.5 percent last year to $333.74 billion, the smallest increase since China joined the World Trade Organization seven years ago, official data showed Friday.

The General Administration of Customs said the figure included $252.3 billion in exports from China, up 8.4 percent, and $81.44 billion in imports from the United States, up 17.4 percent.

China's trade surplus with the United States rose 4.6 percent to $170.86 billion, accounting for 57.8 percent of China's total trade surplus last year.

Shrinking demand in the United States, caused by the financial crisis, and the stronger yuan were the main factors that curbed Sino-US trade, the Customs said.

Of China's exports to the United States, machines and electronics made up 60.6 percent of the total. Such exports rose 6.4 percent. The growth rate was 9.6 percentage points smaller than in 2007.

Of nine major categories of labor-intensive exports, seven declined, including clothing and accessories, plastic products and toys.