China's 2011 foreign trade rises 22.5 %

Jan 11, 2012 12:00 AM

China's foreign trade rose 22.5 % in 2011 from a year earlier to $ 3.64 tn, China's General Administration of Customs (GAC) said, adding that the country's annual trade surplus narrowed 14.5 % year on year to $ 155.14 bn in 2011.
China's annual trade surplus figures have seen a consistent fall from $ 295.47 bn in 2008 to $ 196.07 bn in 2009 and $ 183.1 bn in 2010.

China's exports grew 20.3 % year-on-year to $ 1.9 tn last year while imports grew 24.9 % to $ 1.74 tn. In December, China's total exports rose 13.4 % year-on-year to $ 174.72 bn while imports increased 11.8 % year-on-year to $ 158.2 bn.
China, already the world's second-largest importer, is expected to take over as the world's top importer in another two to three years and contribute to global economic recovery, said Zhou Shijian, a senior research fellow from the Centre for US-China Relations, Tsinghua University.

Zhou further noted that China should consider measures to spur exports instead of "stabilizing exports," as the government has stated. He projected growth in exports, once a major engine driving China's fast economic expansion, to continue registering in the single digits this year.
China is scheduled to release its FY2011 and Q4 GDP data on 17 January.

China's trade with emerging economies showed great improvement over last year's average growth, with its trade with Brazil, Russia and South Africa rising by 34.5 %, 42.7 % and 76.7 %, respectively, the GAC data showed.
China's top trading partner continued to be the European Union with bilateral trade up 18.3 % year-on-year, amounting to $ 567.21 bn.

China's trade with the US, the country's second-largest trading partner, rose 15.9 % from a year ago to $ 446.65 bn.
China's free trade area arrangement with the Association of Southeast Asian Nations (ASEAN) saw trade grow by 23.9 % year-on-year to $ 362.85 bn in 2011.

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