China’s exports surge, trade surplus widens

// News | General | China’s exports surge, trade surplus widens
Email to a friend Plain text Print version // Font size: Decrease font Enlarge font

China’s trade surplus widened further in October to $32bn as exports swelled  by 11.6 per cent, the strongest rise since May, state-run news agency Xinhua reported on Saturday.

During the same period, imports rose by  2.4 per cent year-on-year, the same rate of growth recorded in September.

CNN reported that in the first ten months of 2012, the country’s total foreign trade expanded  by 6.3 per cent  to $3.16tn compared to the same period last year.

China had set a target of target of 10 per cent growth in foreign trade this year, however the country’s commerce minister has said that will be difficult to achieve.

“Even though our year-on-year export growth rate rebounded slightly to 9.9% in September and 11% in October, it remains very difficult for us to achieve the 10% foreign trade growth target for the whole year,” Chen said on the sidelines of the Communist Party’s 18th National Congress in Beijing, according to Xinhua.

Chen said that China could instead expect to maintain its share of global trade.

Last year, China’s trade surged by  22.5 per cent, however, this year, weak global demand, higher operating costs and growing trade protectionism were putting pressure on exports, Xinhua reported.

In the first ten months of this year, trade with China’s largest trading partner, the European Union fell by  three per cent amid a severe economic downturn and a series of severe austerity measures. A territorial dispute between China and Japan has also taken a toll on their economic relations, pushing trade between the two down by 2.1 per cent.

The falls were offset by China’s growing trade relations with the United States, ASEAN countries, Russia and Brazil. This year, China’s trade with the US, its second largest trading partner, increased by 9.1 per cent to $396bn.

The positive figures come as thousands of delegates meet in Beijing for a once-in-a-decade leadership change. Next week, Xi Jinping is expected to be named the country’s new president, replacing current President Hu Jintao.

Tagged : No tags for this article

Headlines Newsview all

Nigerian Prostitutes In Italy Reveal How Dreams Of Freedom Turned To Nightmare

The plight of trafficked Nigerian women forced to work in the sex trade has been highlighted by Paris-based photographer Elena Perlino, originally from Italy. These ... Full story

Peter Okoye Of Psquare Rushed To The Hospital After Falling Off Stage Video

Peter Okoye of Psquare can dance like Michael Jackson and has always being the one who is seen doing most of their heavy dancing. He was ...

Ini Edo’s Marriage To Phillip Ehiagwina Allegedly Crashes

New reports surfacing online allege that actress Ini Edo’s marriage has crashed. Ini Edo, who got married to her American based business man, Phillip in 2008, ... Full story

Pastor Ayo Oritsejafor, President of the Christian Association of Nigeria opens up on $9.3m arms deal

President of the Christian Association of Nigeria, CAN, Pastor Ayo Oritsejafor, yesterday for the first time spoke on the controversial $9.3m cash allegedly smuggled into ...

Pastor E.Adeboye Says Abortion Is Okay If A Doctor Requests It

The GO of the Redeemed Christian Church of God, (RCCG) Pastor Enoch Adeboye, says abortion is ungodly and unbiblical. He made his position known via ... Full story

Man Attempts to Commit Suicide In Synagogue Church To Prove T.B Joshua Is Not Fake

The spokesman of Emmanuel TV, the media outfit of the Synagogue Church of all Nations, Ken Emeakayi, revealed on Channels TV's Sunrise Daily programme today ... Full story

TB Joshua To Be Prosecuted In Lagos

The Lagos State Government has set up a coroner of inquest for the purpose of investigating the cause of the September 12 Synagogue Church of ...

Nigerian oil tycoon's wife sends warning to Porsha Williams, "The Real Housewives of Atlanta" star

More details have come out on the rumor that "The Real Housewives of Atlanta" star Porsha Williams is dating a married man. On Saturday, September ... Full story

Adokiye Kyrian - Buy my mum a private jet and eat my forbidding fruit

Sexy, Imo State-born singer, Adokiye Kyrian, once created a media storm when she disclosed that she is still 'untouched' s*xually. The talented music act who calls ... Full story

Cardinal Okogie Declares Oritsejafor Is Finished And CAN Is Damaged

In perhaps the most stinging criticism of the leadership of the Christian Association of Nigeria (CAN), by a past leader of the body, the former ...

TB Joshua refutes allegations that he performs fake miracles

The founder of the Synagogue Church of All Nations, Temitope Joshua, has refuted allegations that he performs fake miracles. The pastor has come under severe criticisms ...

Comment on: China’s exports surge, trade surplus widens

Rate this article

0

Breaking News

My Husband Lies To Impress Me—Woman Tells Court

A 26-year-old wife, Mujidat Quadri has disclosed that her 3-year-old marriage to her husband, Gani Quadri has been plagued with series of lies.Mujidat, who testified ...

Genevieve To Begin Online Sales Of Fashion Clothing

It has been learnt that superstar actress, Genevieve Nnaji is really ready to take her fashion line business seriously like never before.Recall that some years ...

Yvonne Okoro Goes On CNN

Yvonne Okoro is being exposed to a global television audience as her face has been on international platform, CNN, for the past few days.The popular ...

Fred Amata Is Happy About My Marriage—Ibinabo Fiberesima

ghjkg | 10/1/2014 12:08:06 PM EmptyHeen is in trouble dat wat I call them Because I can't believe this is working is just like a Dream....hey ...

Wedding Scandal! Tongues Wag Over Kokoeba Ita-Giwa’s Real Mother… Groom’s Family Revolts

This is definitely not the best of time for one of the richest female Senators of the Federal Republic of Nigeria, Princess Florence Ita Giwa ...

FASHION POLICE REPORT: Victoria Kimani is One Sexy Mamacita!

fghgfd | 10/1/2014 11:09:46 AM EmptyHeen is in trouble dat wat I call them Because I can't believe this is working is just like a Dream....hey ...

Peter of Psquare Falls Of Stage During Performance.

gfhdf | 10/1/2014 11:10:28 AM EmptyHeen is in trouble dat wat I call them Because I can't believe this is working is just like a Dream....hey ...

Some Male Fans Say I’m Rude Because I Reject Their Advances—Iyabo Ojo

fhgf | 10/1/2014 11:15:27 AM EmptyHeen is in trouble dat wat I call them Because I can't believe this is working is just like a Dream....hey ...

TY Bello Goes On Photography Tour To Kano

Nigerian singer, TY Bello, is not only a music artiste, but an internationally acclaimed photographer. The colours, shades and textures which she captures in her ...

Microsoft unveils Windows 10 with Start Menu

Microsoft has disclosed the first details of Windows 10 – its next operating system (OS). The name is a surprise bearing in mind it represents a ...