world growth

world growth

Tuesday, January 6, 2009

China's 2008 trade surplus about $290 billion, total trade $2.55 trillion

BEIJING, Jan 4 (Reuters) - China's trade surplus was about $290 billion in 2008 as total foreign trade reached $2.55 trillion, rising 18 percent from 2007, Xinhua said on Sunday, citing a report by the General Administration of Customs.

That would make the December trade surplus about $34 billion as Xinhua said China had a surplus of $255.95 billion in the first 11 months of the year.

In the first 11 months of 2008, external trade was $2.38 trillion, rising 20.9 percent from a year earlier, but the growth rate fell from 2007, said Xinhua.

The report predicted that as the financial crisis affects the economy and external demand shrinks, China's exports would decline further, said Xinhua. (Reporting by Kirby Chien; Editing by David Holmes) ($=6.84 yuan)

http://www.reuters.com/article/marketsNews/idUSPEK6666120090104

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