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Import and Export of China in 2002
2004/06/09



     According to statistics by China Customs, the total value of China's import and export reached USD 620.79 billion in 2002, which was an increase of 21.8% over the previous year. The value of export was USD 325.57 billion, which meant an increase of 22.3% over the year 2001. And import value was USD 295.22 billion and also rising 21.2%.
     The total value of general trade import and export was USD 265.33 billion in 2002, which accounted for 42.7% of the total import and export worth of the year and also an increase of 17.7% over the previous year. In a breakdown, general trade export stood at USD 136.21 billion, accounting for 41.8% of the year's total export and rising up 21.7%; import was USD 129.12 billion, which meant 43.8% of the total import and a proper increase of 13.8%.
     With the inflow of large quantities of foreign investment, many multinational corporations (MNC) transferred their production lines into China, which resulted in the high-speed increase of processing trade import and export. In 2002, the import and export value of processing trade totaled USD 302.17 billion, which accounted for 48.8% of the total import and export worth of the year and also an increase of 25.2% over the previous year. In a breakdown, the export stood at USD 179.94 billion, accounting for 55.3% of the year's total export and rising up 22% from the previous year; import was USD 122.23 billion, which meant 41.4% of the total import and an increase of 30.1%.
     In 2002, the foreign-invested enterprises as the main body of processing trade were developing very quickly. The value of their import and export totaled USD 330.22 billion, which was 27.5% higher than the year 2001. In a breakdown, the value of export was USD 169.94 billion, which meant 27.6% increase over the year 2001. And the import value was USD 160.28 billion and also rising up 27.4%. In the meantime, the total import and export value of Chinese State-Owned Enterprises (SOE) reached USD 237.35 billion, which showed an increase of 9.5% higher than the previous year. In a breakdown, the value of export was USD 122.86 billion, 8.5% increase over the previous year, and the import value was USD 114.49 billion and also rising 10.6%. Moreover, Chinese collectives and private enterprises also had a quick development in foreign trade in 2002, and their yearly import and export totaled USD 53.22 billion, 57.1% increase over the year 2001. In a breakdown, the value of export was USD 32.77 billion, which meant 66.5% increase, and the import value was USD 20.45 billion and also rising 43.9%.
     In the sector of bilateral trade in 2002, Japan was the largest trade partner of China, followed by the USA and then EU. The value of bilateral trade between China and Japan totaled USD 101.91 billion, which accounted for 16.4% of the total value of import and export in 2002 and an increase of 16.2% over the previous year, and also for the first time exceeded USD 100 billion. The total value of Sino-USA and Sino-EU trade also reached USD 97.18 billion and USD 86.76 billion, respectively.
     Among all the exported goods, mechanical and electrical products took the lead in 2002. The relevant statistics showed that export of mechanical and electrical products was USD 157.08 billion, accounting for 48.2% of the year's total export.
     After China's WTO entry, some foreign countries relaxed the quota restrictions towards some Chinese products and this created a good chance for export increase of traditional and advantageous products made in China. In 2002, the export of garments was USD 41.19 billion with an increase of 12.7% over the year 2001; textile fabric or products were USD 20.58 billion and an increase 22.2%; footwear USD 11.09 billion, increase 9.9%; plastic products USD 6.05 billion, increase 18.8% and toys USD 5.57 billion, increase 7.9%.
     As for goods import of China in 2002, primary products accounted for USD 49.27 billion rising 7.7% from the previous year, while finished products USD 245.94 billion with an increase of 24.3%.








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