China Information

Thursday, December 28, 2006

Chinese Import and Export Trade Volume Is Expected to Reach USD1.758 Trillion This Year

China Customs estimated that Chinese import and export trade volume this year was expected to reach USD1.758 trillion up 24% year-on-year, with net income increased by USD330b, among which export increased by 27% and import increased by 20%. The favorable trade balance of the whole year is expected to exceed USD175b. MOFCOM believes that even though the growth speed of world economy will slow down in 2007 the basic aspects are still positive and favorable for the development of Chinese economy and foreign trade. It is initially estimated that China foreign trade will realize a growth around 15% in 2007, which is lower than that in 2006 and the overall import and export volume was expected to surpass USD2 trillion. WTO believes that by the end of 2007 the total foreign trade volume of China is likely to exceed Germany and becomes the world second biggest trade country after America.

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