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China's trade shows clear trend of recovery |
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Tuesday, 11 August 2009 |
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According to a release on Tuesday by China's Administration of Customs, China's total trade reached 200.21 billion USD in July, with which export totaled 105.42 billion USD, and import accounted for 94.79 billion USD. Even though the year on year change was still down 23% for export and 14.9% for import, the month on month comparison was up 10.4% and 8.7% for export and import respectively.
Major media reports focused on the year on year change and cited the negative growth rate as evidence that China's recovery is yet to solidify. As can be seen from the chart below, however, the year on year comparison is a little misleading, because the July 2008 trade was at the peak China ever experienced. The export has been increasing for the past 5 consecutive months, and the import has been up for the past 6 consecutive months. Even though the year on year comparison is still down, the trend of recovery is clear. 
Click on the chart to enlarge. |
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Last Updated on Tuesday, 11 August 2009 |
