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![the EU, US and ASEAN were the top three trade partners of China during the first five months [Xinhua]](http://thebricspost.com/wp-content/uploads/2014/06/228391715_8.jpg)
The EU, US and ASEAN were the top three trade partners of China during the first five months of 2014 [Xinhua]
The General Administration of Customs said China’s exports have gone up 5.4 per cent year on year to over $190 billion.
Imports are down by 2.9 per cent to over $155 billion. The trade surplus, which is about $35 billion, expanded by 70.3 per cent.
The data also revealed that the first five months saw a year-on-year decline of 2.2 per cent in the foreign trade volume to over $1.6 trillion.
Exports decreased 2.7 per cent and imports went down 1.6 per cent during the period, while the trade surplus stood at over $69 billion, down 13.6 per cent from a year ago.
Meanwhile, the EU, US and ASEAN were the top three trade partners of China during the first five months. Total foreign trade to the EU increased 9.1 per cent year on year.
“At present, China’s domestic economy is performing stably. It provides a good competitive advantage and policy environment for the stable increase of foreign trade. Meanwhile, the global economy is continuing to recover and the external demand is expected to improve. It will drive the stable increase for China’s bilateral trade with its major trading partners,” said Zheng Yuesheng, General Administration Customs.
China set a trade growth target of 7.5 per cent this year, lower than the 8-per cent goal for 2013 and last year’s actual expansion of 7.6 per cent.
Source: Agencies
