China reports record trade surplusNovember 11th, 2008 - 6:25 pm ICT by IANS
Beijing, Nov 11 (Xinhua) China announced Tuesday a trade surplus of $35.2 billion in October, despite economic slowdown.It hit another historic monthly high as the figure gained for the fourth consecutive month since July. The aggregate foreign trade rose 17.6 percent from the same period last year to $221.4 billion in October, according to the China Customs website.
Though exports growth further slowed down to 19.2 percent from 21.5 percent in September, it rose further because of sharply declining imports.
Affected by the global economic slowdown, China’s imports growth dropped from 33.7 percent in July gradually to 15.6 percent in October.
China’s exports reached $128.3 billion, while its imports registered $93.1 billion in October.