China's trade deficit in agricultural products dropped to US$490 million in the first five months, down 67.2 percent from the same period last year as export growth outpaced imports, according to figures from the Ministry of Agriculture.

 

From January to May, exports of agricultural products rose to US$14.42 billion, up 22.5 percent, while imports rose by 12.4 percent to US$14.92 billion.

 

The total trade volume stood at US$29.34 billion, up 53.4 percent from the same period last year.

 

According to the ministry, China exported 5.078 million tons of cereals between January and May, up 53.4 percent, while its cereal import slid by 51.4 percent to 797,000 tons.

 

That makes net cereal exports of 4.281 million tons, up 156 percent.

 

A breakdown shows exports of rice, corn and wheat grew markedly, while imports of barley declined, the ministry said.

 

The trade surplus in aquatic products enjoyed a steady increase to hit US$1.91 billion, up 10.4 percent.

 

The deficit in livestock products widened in the past five months, up 150 percent from the same period of last year to US$910 million.

 

The imports of live pig products surged 102 percent, and exports were slightly down by 5.1 percent.

 

China has seen an outbreak of blue ear pig disease that led to a mass culling in the first half of the year, and it has sent pork prices higher in major cities due to a shortage of pigs.

 

China first reported a trade deficit in the agriculture sector in 2004. The deficit continued for three consecutive years, dropping from US$4.9 billion in 2004 to US$1.5 billion last year.

 

(Xinhua News Agency July 11, 2007)