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China's Imports, Exports Drop 10.1% in September

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BEIJING, Oct. 15 -- China's foreign trade continued to fall in September, but the rate of decline slowed sharply, the General Administration of Customs said Wednesday.
&nbsp;&nbsp;&nbsp; The total value of imports and exports for September was 218.94billion U.S. dollars, down 10.1 percent from the same month last year, but up 14.2 percent from August.
&nbsp;&nbsp;&nbsp; Imports stood at 103.01 billion U.S. dollars, down by 3.5 percent from September last year and up 17 percent from August.
&nbsp;&nbsp;&nbsp; Exports in September dropped 15.2 percent from the same month last year to 115.93 billion U.S. dollars, but their value rose 11.8 percent from August.
&nbsp;&nbsp;&nbsp; For the first three quarters, China's foreign trade was down by20.9 percent from the same period last year to 1.56 trillion U.S. dollars.
&nbsp;&nbsp;&nbsp; Exports dropped by 21.3 percent from the same period last year to 846.65 billion U.S. dollars. Imports were 711.17 billion U.S. dollars, representing a decrease of 20.4 percent from the same period last year.
&nbsp;&nbsp;&nbsp; The total trade surplus was 135.48 billion U.S. dollars from January to September, a decrease of 26 percent from the same period last year.
&nbsp;&nbsp;&nbsp; In the first three quarters, the European Union remained China's leading trade partner, with a total trade volume of 260.05 billion U.S. dollars, a decrease of 19.4 percent over the same period last year.
&nbsp;&nbsp;&nbsp; The trade volume between China and the United States, China's second largest trade partner, dropped 15.8 percent from a year earlier to 211.88 billion U.S. dollars.
&nbsp;&nbsp;&nbsp; &quot;Efforts from the Chinese government and enterprises made the market share of China's exports stabilize,&quot; said Zhang Yansheng, director of the Institute of Foreign Trade under the National Development and Reform Commission, China's top economic planner.
&nbsp;&nbsp;&nbsp; Zhang attributed the slowdown of exports to stronger global market demand in the past months.
&nbsp;&nbsp;&nbsp; &quot;The global economy is showing signs of recovery, although the developed countries like the United States and Japan have not totally shaken off the negative effects from the global economic downturn,&quot; said Zhao Jinping, a senior researcher with the Development Research Center of the State Council.
&nbsp;&nbsp;&nbsp; &quot;China's foreign trade dropped remarkably in the first half year. The decrease rate slowed down in the third quarter. The favorable trend is expected to continue in the fourth quarter. But this will not change the whole year decrease of China's foreign trade,&quot; Zhao said.
&nbsp;&nbsp;&nbsp; China's export in 2009 is expected to drop by 15 percent, Zhao predicted.
&nbsp;&nbsp;&nbsp; Zhang echoed Zhao's forecast, estimating the rate of decrease would range from 15 percent to 20 percent for entire 2009.
&nbsp;&nbsp;&nbsp; (Source: Xinhua)
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