China's quarterly trade value up 44pc - 8pc up on pre-downturn

CHINA'S foreign trade value in the first quarter increased 44.1 per cent year on year to US$617.9 billion, 8.2 per cent more than in the first quarter of 2008 before downturn, Logistics Week reported.

Export value increased 28.7 per cent year on year and was 3.4 per cent more than 2008 to $316.2 billion. Import value surged 64.6 per cent year on year and increased 13.8 per cent over 2008 to $301.7 billion. The trade surplus fell 76.7 per cent to $14.5 billion.

In March, China recorded a trade value of $231.5 billion, up 42.8 per cent year on year, 27.6 per cent month to month and 13.1 per cent over the same month in 2008. Export value was $112.1 billion, up 24.3 per cent year on year, 18.6 per cent month to month and 2.9 per cent more than 2008. Import value was $119.4 billion, up 66 per cent year on year, 37.3 per cent month on month and 24.6 per cent over 2008.

In March, China for the first time since May 2004 recorded deficit in its foreign trade, which was $7.2 billion.

(Source: www.schednet.com)