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China-US trade up 10.5% in 2008

(Xinhua)
Updated: 2009-02-06 15:04

China-US bilateral trade expanded 10.5 percent last year to $333.74 billion, the smallest increase since China joined the World Trade Organization seven years ago, official data showed Friday.

Related readings:  Sino-US trade grows at slower pace on crisis  US Chamber of Commerce sets $1 trln goals for China  Sino-US trade falls in second half of 2008  Sino-US trade war will worsen global crisis

The General Administration of Customs said the figure included $252.3 billion in exports from China, up 8.4 percent, and $81.44 billion in imports from the United States, up 17.4 percent.

China's trade surplus with the United States rose 4.6 percent to $170.86 billion, accounting for 57.8 percent of China's total trade surplus last year.

Shrinking demand in the United States, caused by the financial crisis, and the stronger yuan were the main factors that curbed Sino-US trade, according to the Customs.

Of China's exports to the United States, machines and electronics made up 60.6 percent of the total. Such exports rose 6.4 percent. The growth rate was 9.6 percentage points smaller than in 2007.

Of nine major categories of labor-intensive exports, seven declined, including clothing and accessories, plastic products and toys.