China's foreign trade value down 22.4pc in first 8 months

STATISTICS posted by the China Customs show the country's foreign trade value in the first eight months slid 22.4 per cent year on year to US$1.34 trillion.

Export value fell 22.2 per cent to $730.47 billion. Import value decreased 22.7 per cent to $607.9 billion. Trade surplus was $122.8 billion, down 19 per cent, Logistics Week reported.

The European Union continued to be China's biggest trading partner with a bilateral trade value of $224.7 billion, down 20.7 per cent. The US ranked second with a bilateral trade value of $183.8 billion, down 16.4 per cent. Japan was the third with a 22.1-per-cent-less bilateral trade value of $138.7 billion.

Brazil broke into the ranks of top 10 of China's trading partners, but its bilateral trade value between China and Brazil was $25.4 billion, a fall of 22.8 per cent.

In August, China's foreign trade value increased 2.3 per cent over July to $191.7 billion. Export value rose 3.4 per cent month on month to $103.7 billion. Imports increased one per cent month to month to $88 billion.

(Source: www.schednet.com)