China's foreign trade value fell 13.9pc in 2009

CHINA's foreign trade in 2009 dropped 13.9 per cent from a year earlier to US$2.21 trillion and its trade surplus last year slid 34.2 per cent to $196.1 billion, according to figures released by the General Administration of Customs (GAC).

GAC figures showed China's monthly exports in December 2009 were worth $130.7 billion, up 17.7 per cent from a year earlier. It was the first increase since November 2008 when the country's exports contracted 2.2 per cent year on year after sluggish overseas demand slowed exports. Imports in December hit record monthly high to reach $112.3 billion, up 55.9 per cent from the same period of 2008, according to the GAC.

In December 2009, China's foreign trade amounted to $243 billion, up 32.7 per cent year-on-year and 16.7 per cent month to month.

In total, GAC figures showed that China's export value in 2009 stood at $1.2 trillion, down 16 per cent from 2008. Imports in 2009 stood at $1.01 trillion, down 11.2 per cent from a year earlier.

According to the GAC, the European Union (EU) continued to be China's biggest trading partner in 2009, with two-way trade totalling $364.1 billion, down 14.5 percent from a year earlier. Trade between China and the United States, the country's second biggest trade partner, fell 10.6 per cent to $298.3 billion. Japan remained China's No 3 trade partner with bilateral trade totalling $228.9 billion, down 14.2 per cent from 2008.

Source: www.schednet.com