Trade of machinery & electronic products surges 20.3% in Q1

Apr. 10, 2008 (China Knowledge) - China's trade of machinery and electronic products surged 20.3% year-on-year to US$306.6 billion in the first quarter of 2008, down from the growth rate of 22.3% in the same period last year, according to the Ministry of Commerce (MOC) on Wednesday.

The slower growth rate was mainly due to the declined overseas orders for the Chinese machinery and electronic products as well as the severe winter whether in five decades, which hit large swathes of China's southern and eastern regions from mid January to early February, said analysts.

In the period, the exports surged 23.1% to US$181.4 billion, down 5.4% from the same period last year, while the imports surged 16.4%, up from the 14.9% in the same period last year.

Meanwhile, the trade value of the country's new-and-high-tech products amounted to US$172.9 billion, up 15.5% year-on-year, according to the MOC.