Chinas imports, exports up in 1995

China's foreign trade in 1995 totaled $280.85 billion, up 18.6 per cent from the previous year, according to customs statistics released.

Exports topped imports at $148.77 billion over $132.08 billion, making a year-round surplus of $16.69 billion.

Export growth averaged 22.9 per cent and import rose 14.2 per cent, with the former lowered month-on-month since last January and the latter gaining steadily.

In December, import growth outstripped that of exports to result in a deficit of $1.23 billion.

Over the year, finished industrial products worth $127.28 billion were exported accounting for 85.6 per cent of the nation's total overseas sales.

Among the finished industrial exports, machinery and electronics products worth $43.86 billion topped textiles to be the biggest seller on overseas markets.

Other industrial products selling well overseas included garments, textile yams and associated products, shoes, toys, luggage and plastic products.

Primary goods exports totaled $21.49 billion, a rise of 9 per cent over 1994.

These mainly include 610,000 tons of aquatic products and 1.58 million tons of vegetables, up 6.4 per cent and 2.3 per cent, respectively.

Imports of finished industrial products totaled $107.67 billion in 1995, up 8.6 per cent from 1994.

Among the total, imports of machinery and electronics products totaled $59.18 billion, rising 3.5 per cent, which was significantly slower than in 1994.

Top categories of finished industrial imports include rolled steel, plastics in primary shape, fertilizer, textile machinery, machine tools for metallurgical processing, integrated circuits and micro-electronics components.

Imports of primary goods totaled $24.41 billion, up 48 per cent from 1994. They mainly included grain, crude oil, edible vegetable oil, oil products and raw cotton.

Processing trade: importing materials and re-exporting them with added-value after processing --- remained the major means of China's foreign trade. Exports and imports under this category totaled $132.1 billion in 1995.

Barter trade plummeted to $2.9 billion, down by 26.5 per cent from 1994. This year it is predicted to fall even further as the 50 per cent import tariff deduction for barter trade expired last year-end.

Foreign trade by joint ventures was up 25.3 per cent from 1994 and, at $109.8 billion, accounted for almost 40 per cent of China's foreign trade total in 1995.

The number of China's trade partners rose to 227 in 1995 from 221 a year earlier and Japan remained on top of the list with year-round bilateral trade at $57.47 billion.

This article is brought to you courtesy of Ms. Xue-chun Shan, Commercial Consul at the Consulate General of People's Republic of China in Los Angeles.