Sunday, August 17, 2008

Xinjiang reports robust foreign trade growth

The import and export value of northwest China's Xinjiang Uygur Autonomous Region doubled in the first seven months of this year to 11.58 billion U.S. dollars, 70 percent more than the national average growth rate.

The remote Chinese region exported 9.89 billion U.S. dollars worth of commodities from January to July, almost double that for the same period last year, and imported goods were valued at 1.69 billion U.S. dollars, an increase of more than 80 percent, according to statistics given by Urumqi Customs.

Xinjiang's conventional bulk goods for export included garment and accessories, footwear, machinery and electronic products, textile yarn, fabrics and related products, and farm produce.

In the first seven months, 77 percent of the region's foreign trade volume, or 9 billion U.S. dollars, were done via barter trade.

Xinjiang borders with Mongolia, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Afghanistan, Pakistan and India, with a border line of5,400 km.

Kazakhstan remains as Xinjiang's biggest trading partner, followed by Kyrgyzstan, Russia, Tajikistan and Uzbekistan.

Nationwide, China gained 1.48 trillion U.S. dollars in foreign trade in the first seven months, representing a year-on-year rise of 26.4 percent, according to a report posted on the website of Ministry of Commerce.

In breakdown, exports totaled 802.91 billion U.S. dollars, up 22.6 percent, while imports were worth 679.2 billion U.S. dollars, up 31.1 percent.


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