Decline in China trade volume narrows in September

Time:2009-11-05 Browse:79 Author:RISINGSUN

CHINA`s foreign trade continued to fall in September, but the rate of decline slowed sharply, Logistics Week reported, citing the General Administration of Customs data.
The total value of imports and exports for September was US$218.94 billion, down 10.1 per cent year on year, but up 14.2 per cent from August.
Exports in September dropped 15.2 per cent year on year to $115.93 billion, least slip in nine months with value rose 11.8 per cent from August. Imports fell 3.5 per cent to $103 billion, which was up 17 per cent from August, again the smallest decline since imports began to slide in November 2008.
Narrowing declines have been taken as a sign that the stimulus funding is working. China`s trade surplus stood at $135.5 billion for the first nine months, falling 26 per cent compared over last year, according to the General Administration of Customs.
For the first three quarters, China`s foreign trade declined 20.9 per cent from the same period last year to $1.56 trillion. The exports dropped by 21.3 per cent from the same period last year to $846.65 billion, while the imports slid 20.4 per cent year on year to $711.17 billion.
In the first three quarters, the European Union remained China`s leading trade partner, with a total trade volume of $260.05 billion, down 19.4 per cent year on year. The trade volume between China and the United States, China`s second largest trade partner, dropped 15.8 per cent from a year earlier to $211.88 billion.
"The global economy is showing signs of recovery, although the developed countries like the United States and Japan have not totally shaken off the negative effects from the global economic downturn," said Zhao Jinping, a senior researcher with the Development Research Centre at the State Council.
"China`s foreign trade dropped remarkably in the first half year. The decrease rate slowed down in the third quarter. The favourable trend is expected to continue in the fourth quarter. But this will not change the whole year decrease of China`s foreign trade," Mr Zhao said.