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Economy

China's foreign trade up 44.4% in Jan

(Xinhua)
Updated: 2010-02-10 13:29
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China's foreign trade posted a 44.4 percent growth in January 2010 year on year, the General Administration of Customs (GAC) announced Wednesday.

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Exports in January stood at US$109.47 billion, up 21 percent from a year earlier, while imports rose 85.5 percent to US$95.31 billion.

The hefty increase was due to lower comparison bases a year ago when China's exports were hard hit by global financial crisis and less working days as the Lunar New Year holiday fell in January last year, the administration explained.

The trade surplus contracted 63.8 percent to US$14.16 billion.

The European Union and United States remained China's first two largest trading partners.

The Association of Southeast Asian Nations (ASEAN) surpassed Japan to be the third largest as the Sino-ASEAN trade surged 80 percent to US$21.48 billion after the China ASEAN free trade area kicked off on January 1 this year.

Exports of machinery added 27 percent to US$62.51 billion, or nearly 60 percent of the total.

Exports of appliance and electrical products grew 33.1 percent to US$24.09 billion.

 
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