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China's trade shows positive signs PDF Print E-mail

According to a release by China's Customs, China's total trade valued at 182.57 billion USD in Jun, down 17.7% year on year, but up 11.2% from May.  Export totaled 95.41 USD, down 21.4% year on year, but up 7.5% from May.  Import summed to 87.16 billion USD, 13.2% lower compared with last year, but 15.6% higher than June.

For the first half of 2009, China's total international trade reached 946.12 billion USD, down 23.5% year on year, with which export was 521.53 billion USD, down 21.8% from last year, and import was 424.59 billion USD, down 25.4%.  Cumulative trade surplus was 96.94 billion USD, down 1.3%.

As can be seen from the chart below, even though total value has been lower compared with last year, the upward trend has been consistent since January for import and February for export.  In addition, the increase of import has been clearly faster than export.  There have been a lot of noises about China's protectionism measures recently, but trade numbers seem to show those concerns are overblown.

 

 

By trade destination, China's largest trading partner was the European Union, with total trade valued at 160 billion USD in the first half year, followed by the U.S. with 132 billion USD, Japan with 100 billion USD, ASEAN with 88 billion USD, South Korea with 68 billion USD, and Hongkong with 73 billion USD.  Total trade with Taiwan was 43 billion USD January to June, a little shy of that with Germany's 46 billion USD.  With the relationship between Mainland China and Taiwan improved recently, it can be expected that the total trade will shoot up faster than before.

The China-U.S. trade accounts for about 14% of China's total international trade in the first six months, and the China-E.U. trade accounts for about 17%, while the trade with Hongkong, Taiwan, ASEAN, and South Korea combined accounts for about 30% of China's total trade.  The following chart shows China's total trade by destination in details.

 

 
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