China’s Imports Reached Record High in July, Total Import & Export Value Reached $1.17 Trillion in First Seven Months of 2007

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Researched by Industrial Info Resources (Sugar Land, Texas). The total import and export value for China reached $1.17 trillion in the first seven months of 2007, an increase of 24.4% compared with the same period of the previous year. Among them, the export value reached $654.41 billion, an increase of 28.6%, and the import value reached $517.59 billion, an increase of 19.5%, announced the General Customs Administration of China on August 10, 2007.

According to official statistics, the import and export value reached $191.13 billion in July, an increase of 30.9%. Among them, the export value reached $107.74 billion, an increase of 34.2%, which created a record high in monthly export value; the import value reached $83.39 billion, an increase of 26.9%, which created a new record high in monthly import value following the monthly import value that surpassed $80 billion for the first time in April.

From January to July, the export in general trade kept a strong growth in China, and the import obviously accelerated. The import and export value of general trade in the first seven months reached $528.18 billion, an increase of 30.2%. Among them, the export value reached $295.89 billion, an increase of 34.7%; the import value reached $232.29 billion, an increase of 25%. The growth in import processing trade rose again. From January to July, the import and export value of processing trade reached $523.83 billion, an increase of 18.5%. Among them, the export value reached $326.73 billion, an increase of 21.9%; the import value reached $197.1 billion, an increase of 13.3%.

Up to the end of July, the import and export values of China with the top five trade partners are over $100 billion in 2007. According to official statistics, from January to July, the European Union remains the first trade partner with China. Bilateral trade value reached $190.08 billion, an increase of 28.5%. The United States is the second trade partner with China. Bilateral trade value reached $167 billion, an increase of 17.5%. Japan is the third trade partner with China. Bilateral trade value reached $129.94 billion, an increase of 15.2%. The trade value with the Association of Southeast Asian Nations (ASEAN) and Hong Kong also reached $109.77 billion and 105.86 billion, respectively, in the first seven months, an increase of 27.5% and 23.2%, respectively.

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