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Foreign trade growth slows to 17.6% in November

China.org.cn, December 10, 2011

• On breakdown, general trade increased 30.9 percent year-on-year to US$1.75trillion from January to November, while processing trade rose 13.4 percent to US$1.19 trillion.

  The GAC data showed China's trade with emerging economies greatly outpaced average growth in the January-November period, with its trade with Australia, Brazil, Russia and South Africa rising by 33.8 percent, 36.7 percent, 44 percent and 82.5 percent, respectively.

  The European Union (EU) remained China's top trading partner in the first 11 months even though demands from EU was affected by the festering debt crisis, with bilateral trade amounting to US$517.11 billion, up 19.2 percent year-on-year.

  China's trade with the United States, the country's No. 2 trading partner, increased 16.9 percent from a year ago to US$405.43 billion.

  A free trade area arrangement between China and the Association of Southeast Asian Nations (ASEAN) continued to lift the China-ASEAN trade by 25.1 percent year-on-year to US$328.96 billion from January to November.

  In the period, China reported a trade deficit of US$21.94 billion with ASEAN, 53.5 percent greater than a year ago.

  China's trade with Japan, the fourth-largest trading partner, amounted to US$312 billion in the first 11 months, a year-on-year increase of 16.5 percent.

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