The ongoing bad news for Chinese exporters continued in June. New figures from the Chinese General Administration of Customs show that total exports fell 21.4 per cent year on year in June, to USD95.41 bn. China’s June imports totalled USD87.16 bn, down 13.2 per cent year on the same 2008 period.
During the first half of 2009, Chinese exports were valued at USD521.53 bn – a decrease of 21.8 per cent over the same 2008 period. Imports were valued at USD424.59 bn, down 25.4 per cent. China’s trade surplus stood at USD96.94 bn at the end of June, down USD1.3 bn, or 1.3 per cent, year on year.
Cuts in export tariffs and a rise in tax rebates on some labour-intensive products, including farm and textile products, “slowed the decline in exports of such goods to 21.8 per cent in the first half,” Chinese state media writes. Exports of textiles and garments were down 8.5 per cent year on year between January and June.
The European Union was China’s leading first half year trade partner, followed by the United States and Japan.
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China’s H1 Exports Fall 21.8 Per Cent in June
The ongoing bad news for Chinese exporters continued in June. New figures from the Chinese General Administration of Customs show that total exports fell 21.4 per cent year on year in June, to USD95.41 bn. China’s June imports totalled USD87.16 bn, down 13.2 per cent year on the same 2008 period.
During the first half of 2009, Chinese exports were valued at USD521.53 bn – a decrease of 21.8 per cent over the same 2008 period. Imports were valued at USD424.59 bn, down 25.4 per cent. China’s trade surplus stood at USD96.94 bn at the end of June, down USD1.3 bn, or 1.3 per cent, year on year.
Cuts in export tariffs and a rise in tax rebates on some labour-intensive products, including farm and textile products, “slowed the decline in exports of such goods to 21.8 per cent in the first half,” Chinese state media writes. Exports of textiles and garments were down 8.5 per cent year on year between January and June.
The European Union was China’s leading first half year trade partner, followed by the United States and Japan.
This entry was posted on Wednesday, July 15th, 2009 at 1:54 pm and is filed under News commentary. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.