From January to August 2008, China's accumulated imports and exports reached $1.72 trillion ($1 = 6.8 RMB), an increase of 25.7 percent compared with the same period last year. Exports totaled $937.69 billion, up 22.4 percent, and imports totaled $785.69, up 30 percent year over year. An accumulated trade surplus of $151.99 billion was registered, down 6.2 percent year over year, the General Customs Administration of China announced on September 10.
According to the administration, imports and exports in August totaled $241.05 billion, up 22 percent year over year. Exports reached $134.87 billion, up 21.1 percent, and imports reached $106.18 billion, up 23.1 percent.
Trade
General trade has been surging, especially in imports. From January to August, the total value of China's general trade reached $840.07 billion, an increase of 36.2 percent year over year. Imports totaled $402.14 billion, a jump of 48.5 percent. Processing trade reached $702.68 billion, an increase of 14.6 percent year over year. Imports reached $258.27 billion, up 11.8 percent, and exports reached $444.42 billion, up 16.2 percent.
Regions
1) European Union: Bilateral trade reached $283.32 billion, up 26.9 percent.
2) United States: Bilateral trade value reached $219.7 billion, up 13.3 percent year over year.
3) Japan: Bilateral trade reached $178.07 billion, up 18.4 percent year over year.
India ranked ninth among China's top 10 trade partners with a bilateral trade value of $37.86 billion, up 59.1 percent year over year. The major increase gives India the highest growth rate among all of China's trade partners.
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