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China's exports remain weak amid global downturn

2012-09-10 13:02 Xinhua     Web Editor: Mo Hong'e comment

China's exports improved slightly in August, indicating prolonged weakness in the global economy, according to data released Monday by the General Administration of Customs (GAC).

Exports increased 2.7 percent year on year to 177.97 billion U.S. dollars in August, up from 1 percent recorded in July but marking a sharp drop from 11.3 percent growth in June.

Imports dropped for the third consecutive month, falling 2.6 percent from a year earlier to 151.31 billion U.S. dollars in August.

The trade surplus rose moderately to 26.66 billion U.S. dollars in August from 25.2 billion U.S. dollars the previous month, according to the GAC data.

In the January-August period, total foreign trade reached 2.5 trillion U.S. dollars, an increase of 6.2 percent from last year but below the 10-percent full-year growth target set by the government for 2012.

China's trade with the European Union, its largest trade partner, dropped 1.9 percent year on year in the January-August period to 365.05 billion U.S. dollars, figures show.

During the period, trade with Japan dipped 1.4 percent from a year earlier to 218.7 billion U.S. dollars.

Meanwhile, trade with the United States, the country's second-largest trade partner, climbed 9.6 percent year on year to 312.97 billion U.S. dollars in the first eight months, according to the GAC.

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