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Apr. 14, 2008 (China Knowledge) - China's trade surplus decreased 10.8% year-on-year to US$41.42 billion in the first quarter this year, resulting from a rapid jump in imports and weaker demand from overseas markets, showed the customs figures. It was the first decline in three years, said the Ministry of Commerce. The exports in the period surged 21.4% to US$305.9 billion, down 6.4% from the same period last year, while the imports surged 28.6% to US$264.5 billion, up 10.4% compared with the same period of the previous year. However, the total trade volume surged 24.6% year-on-year, valued at US$570.4 billion. The trade surplus in March reached US$13.5 billion, up from the US$8.6 billion in February, as the impact of the severe winter weather has gradually vanished.
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