China

China's May exports up 48.5%

English.news.cn   2010-06-10 10:00:45 FeedbackPrintRSS

Photo taken on June 8, 2010 shows the colossal chemicals-transport ship of Attilio Ievoli, which is manufactured by the Rushan Shipbuilding Co., Ltd. for export to Italy, taking water at its launching ceremony, at Rushan, east China's Shandong Province.
Photo taken on June 8, 2010 shows the colossal chemicals-transport ship of Attilio Ievoli, which is manufactured by the Rushan Shipbuilding Co., Ltd. for export to Italy, taking water at its launching ceremony, at Rushan, east China's Shandong Province.  (Xinhua/Liu Guoxian)

BEIJING, June 10 (Xinhua) -- China's exports surged by 48.5 percent year on year in May, while the imports climbed 48.3 percent, the General Administration of Customs (GAC) announced Thursday.

The growth rate for exports was 18.1 percentage points up from the figure for April, and the import growth rate dipped slightly from 49.7 percent reported in April.

Exports totalled 131.76 billion U.S. dollars in May, said a statement on the GAS website, adding imports topped 112.23 billion U.S. dollars.

Experts said the strong growth of exports eased concerns that the European sovereign debt crisis would dent China's economic growth.

Total foreign trade value rose 48.4 percent from a year earlier to 243.99 billion U.S. dollars in May. The figure was 10.2 percent higher than May 2008 before the global financial crisis began, the statement said.

Exports were up 9.2 percent from May in 2008 and imports grew 11.4 percent.

From January to May, the total value of foreign trade rose 44 percent year on year to 1.1 trillion U.S. dollars.

Exports were up 33.2 percent to 567.74 billion U.S. dollars and imports rose 57.5 percent to 532.35 billion U.S. dollars, said the statement.

In the first five months, trade surplus fell 59.9 percent to 35.39 billion U.S. dollars. The trade surplus expanded to 19.53 billion U.S. dollars in May on surging exports from the 1.68 billion U.S. dollars in April and a deficit in March, the first time in six years.

In the January-May period, the European Union remained China's largest trade partner, with bilateral trade up 37.4 percent to 177.49 billion U.S. dollars. The growth rate for the first four months was 34.6 percent year on year.

The trade between China and the United States reached 138.68 billion U.S. dollars in the first five months, up 28.2 percent.

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Editor: Han Jingjing
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