China exports and imports surpassed $4 trillionStaff writer ▼ | January 10, 2014
China's total exports and imports surpassed $4 trillion for the first time to reach $4.16 trillion in 2013, up 7.6 percent year on year.China's total exports and imports surpassed $4 trillion for the first time to reach $4.16 trillion in 2013, up 7.6 percent year on year.
The growth rate is slightly lower than the government's full-year target of 8 percent, published in the beginning of 2013. China's exports rose 7.9 percent year on year to $2.21 trillion in 2013, while imports increased 7.3 percent to $1.95 trillion, customs data revealed.
The foreign trade surplus widened to $259.75 billion in 2013, an increase of 12.8 percent from a year earlier, said Zheng Yuesheng, spokesman for the General Administration of Customs. In December, China's foreign trade value hit a new high of $389.8 billion, an increase of 6.2 percent from a year earlier.
December's exports amounted to $207.7 billion, an increase of 4.3 percent, significantly lower than the 12.7-percent growth in November and also lower than the 5.6 percent in October. Import growth rose to 8.3 percent year on year in December from 5.3 percent in November.
Trade with the European Union (EU), China's biggest trade partner, edged up 2.1 percent year on year to $559.1 billion in 2013. China exported $339 billion worth of goods to the EU, while importing $220.1 billion worth of goods from the EU.
Trade with the United States, China's second-biggest trade partner, rose 7.5 percent year on year to $521 billion. China's exports to the United States amounted to $368.4 billion, while imports from the country stood at $152.6 billion.
China's trade with the Association of Southeast Asian Nations, its third-largest trading partner, rose 10.9 percent year on year to $443.6 billion. Its trade with Japan contracted 5.1 percent year on year, to $312.55 billion. ■