The Chinese Market Contributes To The Favorable Balance Of Foreign Trade.

Thanks to the slowdown in world economic growth and the impact of the international financial crisis, the import and export of foreign trade declined in the first quarter of this year, and only trade exports to China maintained a strong growth trend.

According to the March trade statistics released by the Ministry of Commerce, industry and trade, the export volume of foreign trade in the first quarter of this year was US $31 billion 177 million, a decrease of 20% compared with the same period last year, the lowest export season since 2006. Over the same period, imports from foreign trade amounted to US $28 billion 165 million, a decrease of 21.6% compared with the same period last year.

In the major trading partner countries, trade between the US and the US decreased by 38%, 44% to the exports and 22% to the EU. However, trade exports to China increased by 63% to $3 billion 400 million.

As imports fell more than exports, the import and export trade settlement remained a surplus of US $3 billion 12 million, an increase of 9.1% over the first quarter of 2008. Balard, director of foreign trade development of the Ministry of Commerce, industry and trade, believes that the main reason for maintaining the favorable balance of trade is China. If there is no trade export to China, the settlement of foreign trade will become an unfavorable balance.

According to the report of the Central Bank of China, the target of foreign trade exports this year is US $158 billion, imports of US $141 billion and trade surplus of US $17 billion.

Editor in chief: Du Jun