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According to latest statistics released by China's General Administration of Customs, by the end of November 2006, the total volume of China's imports and exports stood at $1,593 billion, more than $311 billion over the corresponding period of the previous year. The real growth rate of 24.3 percent was 0.8 percentage points higher than that of 2005.
Of the total, the volume of exports was $875 billion and that of imports was $718 billion, increasing by 27.5 and 20.5 percent, respectively. Though the growing pace of exports had declined 2.2 percentage points, that of imports had been enhanced by 3.4 percentage points against a year earlier, realizing a trade surplus of $157 billion, climbing $66 billion over 2005.
The General Administration of Customs attributed the boom of international trade and the growing trade surplus to a steady growth of the global economy, remarkably upgraded competence of Chinese export products in the international market and strengthened macro control policies that aimed at bringing the growth of exports down to a reasonable volume. Meanwhile, China's rising national economy requires more imports to meet the spending sprees generated from the domestic market.
A report commissioned by the customs authorities shows that China's total trade value is expected to reach $1,758 billion in 2006, up 24 percent year on year. This is made up of exports worth $963 billion, up 27 percent, and imports of $795 billion, an increase of 20 percent.
The Ministry of Commerce estimated that China's exports of agricultural products were very likely to top $30 billion.
Though affected by the difficulties in hi-tech transfers and the appreciation of the local currency, China's agricultural exports have achieved a steady increase, and good prospects are predictable. During the 10th Five-Year Plan period (2001-05), this export averaged 11.65 percent, ranking fifth place in the global market and accounting for 3.4 percent of the world total. In the first 10 months of 2006, China exported $24.56 billion worth of agricultural products, an increase of 12.7 percent year on year.
It is also reported that most Chinese agricultural export enterprises are small and medium-sized, facing troubles in information collection. The Chinese Government is upgrading a business database and providing better public services. Starting from 2004, the Ministry of Commerce has invested more than 5 million yuan in building a platform where the public can share trading information about agricultural exports. Over the past three consecutive years, the platform has been widely applauded for its tailor-made information products in the areas of policy publication, market guidance, products introduction, data gathering, industrial warning release, overseas information sharing and market situation reporting, as well as an export information service system consisting of China's overseas embassies (consulates), local commercial authorities, industrial associations and research institutes.
(China.org.cn)
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