China's foreign trade volume exceeded US$400 billion for the first eleven months of this year.
Figures released by the General Administration of Customs(GAOC) show that China's trade volume from January to November reached US$430.9 billion, up 33 percent from the same period last year.
China's exports totaled US$227.2 billion in the eleven months, representing a 30.1 percent increase over the same period last year. Imports over the period reached US$203.7 billion, up 37.4 percent year-on-year.
Meanwhile, China recorded a favorable balance of US$23.5 billion in foreign trade from January to November.
In November alone, China's trade volume experienced a 20.4 percent increase over the same period last year, hitting new highs of US$21.64 billion worth of imports and US$22.16 billion worth of exports, up 28 percent and 13.8 percent respectively.
This year's total trade volume is estimated to reach US$475 billion, 100 billion more than last year.
Analysts here said China's foreign trade is marked with new features this year, in addition to the rapid growth in both exports and imports.
China's exports are headed to more diversified destinations. From January to November, China's exports to Asia totaled US$120.1 billion, up 31.2 percent over the same period last year.
Exports to North America reached US$50.8 billion, up 26.5 percent, and exports to Europe stood at US$41.4 billion, representing a 31 percent increase over the same period last year.
China's exports to Latin America, Africa and Oceanic stood at US$6.6 billion, US$4.62 billion and US$3.61 billion respectively, up 40.1 percent, 24 percent and 27.8 percent.
The exports of machinery, electronic products and steels continued to maintain a higher growth rate than traditional labor-intensified products including garments, textile materials and shoes. Machines and electronic products alone accounted for 42.1 percent of all China's exports.
China's imports of soybeans, crude oil, iron ores, non-ferrous metals, electric appliances and other electronic products experienced a considerable growth during the first eleven months.
(Xinhua 12/14/2000)
