Wednesday, December 10, 2008

The trade surplus of China in November, again became a record.

In November 2008, the surplus trade balance of China set another historical record, reaching 40.1 billion dollars, reported AFP. In October the figure was 35.2 billion dollars, and in September - 29.3 billion.
According to the Directorate General of Customs of China, for the eleven months of this year, the trade surplus reached 256 billion dollars.
Exports of China in November fell to 2.2 percent year on year. During November, China exported goods worth 115 billion dollars. Thus, the growth of trade surplus was due to a decline in exports from the country. The fall in export volumes of China has been the first time since June 2001 and reflects the negative impact of the global crisis on the country's economy.
In early October, the Chinese Government announced that, given the slowdown the economy, provide for its support of 586 billion dollars. In the third quarter of 2008, Chinese GDP grew by nine percent, which was the minimum rate for the past five years. Over the same period of 2007, China's economy grew by 11.9 per cent.

No comments: