China's Import-Export Value Hits Record High at $295 Billion in December 2010

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Researched by Industrial Info Resources (Sugar Land, Texas)--Following the record high of $283.76 billion in November 2010, the import and export value of China hit a new record at $295.22 billion in December 2010, a 21.4% increase from the same period in the previous year, or a 4% increase from the previous month. The export value reached $154.15 billion, a 17.9% increase from the same period in the previous year; the import value reached $141.07 billion, a 25.6% jump; and the surplus for the month reached $13.08 billion, a 28.9% drop, the General Customs Administration of China (GCAC) announced on January 10.

Click on image at right for a table showing import and export values of major commodities in China in December 2010.

In 2010, the accumulative import and export value of China reached $2.97 trillion, a 34.7% jump from the previous year. The export value reached $1.58 trillion, a 31.3% increase; the import value reached $1.39 trillion, a 38.7% jump; and the accumulative surplus in trade reached $183.1 billion, a 6.4% drop.

In 2010, the accumulative import and export value of general trade jumped to $1.49 trillion, a 39.9% jump from the previous year. The export value reached $720.73 billion, a 36% increase; the import value reached $767.98 billion, a 43.7% jump; and the deficit under general trade reached $47.25 billion, which was 9.5 times higher than the value in 2009.

In the same period, the import and export value of processing trade jumped to $1.16 trillion, a 27.3% increase from 2009. The export value reached $740.33 billion, a 26.2% increase; the import value reached $417.43 billion, a 29.5% jump; and the surplus under processing trade reached $32.29 billion, a 22.2% increase, which was 1.76 times higher than the value in 2009.

In 2010, the European Union remained the first trade partner with China, and the bilateral trade value reached $479.71 billion, a 31.8% increase from the previous year; the trade value with the U.S. reached $385.34 billion, a 29.2% increase. The bilateral trade value with Japan reached $297.77 billion, a 30.2% increase from the previous year. The deficit in trade with Japan reached $55.65 billion, a 68.5% jump. The bilateral trade value with the Association of Southeast Asian Nations jumped to $292.78 billion, a 37.5% jump. The bilateral trade value with India jumped to $61.76 billion, a 42.4% jump. In addition, the bilateral trade value with Australia, Brazil and Russia jumped 46.5%, 47.5% and 43.1% from the previous year, respectively.

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