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

President Buhari Fires The VCs Of Universities Established By Goodluck Jonathan

President Buhari has approved the sack of the Vice Chancellors of 13 universities established by the administration of former President Goodluck Jonathan. ‎A statement signed ... Full story

Woman Murders Twin Babies And Shares Photos On Social Media

The sort of evils being committed everyday in this world by human beings make you wonder if this world shouldn’t be already ended.    A lady ... Full story

SHOCKING!! A Prophet Told Me To Kill My Mother For Breakthrough - Murder Suspect

A middle age man Oluyinde Ibrahim who was arrested by policemen attached to the Oko- Oba Police Station at Agege area of Lagos State for ... Full story

Just In: Horrible Accident At Ketu Involving Bus And Three Other Vehicles

A ghastly motor accident involving a Tata bus and three other cars in Ketu, Lagos has left many injured in yet another early morning accident.  A ... Full story

Governor Amosun Takes Oath Of Office For 6 New Special Assistants

Barely 24 hours after swearing in 4 Special Assistants, Governor Ibikunle Amosun of Ogun state has approved the appointment of another sets of 6 aides. The ...

Lagos NAMA Offices Raided By EFCC Over N5bn Fraud

The Economic and Financial Crimes Commission on Friday raided the National Aviation Management Agency offices in Lagos over N5bn fraud relating to the Treasury Single ... Full story

Medical Doctor Remanded Over Alleged Fraud Of N32m

A heartless medical doctor who submitted members of a hospital staff to untold hardship by making away with over N32 million has been forced to ... Full story

Graphic Photos: Armed-Robbers Killed At Ikirun, Osun State

The gallant efforts by the combined team of policemen and vigilante group have resulted in the capture and killing of armed robbers who robbed three ... Full story

Goodluck Jonathan’s Ex Aide-De-Camp Transported N10billion In 17 Suitcases To PDP Chiefs

Detectives are questioning former President Goodluck Jonathan’s ex-Aide-De-Camp (ADC) on the disbursement of more than N10 billion oil proceeds to Peoples Democratic Party (PDP) nomination ...

Senate President, Dr. Bukola Saraki’s CCT trial begins March 10

Trial of the Senate President, Dr. Bukola Saraki, on 13 counts of false assets declaration is to resume March 10 before the Code of Conduct ...

EFCC Arrests Wife of Former Airforce Chief, Lara Amosu

Wife of the immediate past Chief of Air Staff, CAS, Mrs. Lara Amosu has been arrested by operatives of the Economic and Financial Crimes Commission ... Full story

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

Rate this article

0

Breaking News

Graphics Photo: Alleged L3sbian Bites off Nollywood Actress, Princess Thigh in Hotel (Exclusive)

Popular Nollywood actress, Princess Chineke, has just been brutally attacked by an upcoming actress while on location shooting popular soap opera 'Behind The Smile.'Information disclosed ...

All For Valentine: Emem Isong Proudly Flaunts Baby Bump (Photos)

In the spirit of Valentine, Nollywood movie producer, Emem Isong and her Cameroonian husband Akama Misodi who are expecting their first child, decided to show ...

How A Female Fan Almost Undressed Singer Flavour On Stage (Photos)

Many may ask, what is in the body of popular singer, Flavour that attracts women of timber and caliber?The 'Golibe' crooner who has been romantically ...

See The Surprise Look On Iyabo Ojo's PA, As She Gets Brand New Toyota Corolla (Video + photos)

What a wonderful way to start start up Valentine's day. Delectable Nollywood actress Iyabo Ojo, decided to surprise her personal assistant with a Toyota Corolla ...

I Thought I'd Be Killed If I Openly Confess Converting To Christianity - Adewale Ayuba (Video)

Only very few friends, family members and fans of popular Fuji musician, Adewale Ayuba knew that he has converted to Christianity since 2010.The ex-staunch Muslim, ...

Late Comedian, Dede OneDay Committed To Mother Earth (Photos)

The doubts of many who never believed that comedian and actor Peter Onwuzuruike Onyehidelam, popularly known as Dede One Day, died has been cleared as ...

Poor Romantic Side Of Our Stars Revealed, As They Speak To NFC On Plans For Val

Tomorrow Sunday, February 14, is a day specially set aside to celebrate Love. It's globally known as Valentine's day. On that note, Nigeriafilms.com spoke to some ...

You cannot get to tomorrow’s destination with yesterday’s people… Ben Murray Bruce lashes Pres. Buhari

Magnate and politician ,Ben Murray-Bruce, is a Nigerian business man and entertainer. He is the founder of Silverbird Group and also a senator.Born to an ...

Forget My Physical Disability, I’m a Very Romantic Man… Cobhams Asuquo

Popular Nigerian music producer and singer, Cobhams Asuquo, will always remain a toast of many each day as his magic fingers on the keyboard helps ...

Kate Henshaw is unworried about what comes her way

When one is healthy, you don’t need too much experience to sight it. Awarding winning Nollywood actress Kate Henshaw whose marriage crashed some years ago ...