China: Trade with rest of the world and economic growth fall in 1st quarter

17 April 2009

Beijing, China, 17 April – Trade between China and the rest of the world in the first quarter totalled US$428.7 billion, or a fall of 25 percent on the same period of 2008, China Radio International reported Thursday in Beijing.

In the period, exports totaled US$245.5 billion, falling by around 20 percent, whilst imports totaled US$183.2 billion, falling by over 30 percent.

In the first quarter, China received US$21.8 billion in foreign direct investment (FDI), which was a drop of US$5.6 billion in comparison with the same period of last year.

Meanwhile, China’s economy saw growth of 6.1 percent in the first quarter, the lowest level for the last decade, or 4.5 percentage points below the growth rate posted in the first quarter of 2008 and 0.7 percentage points lower than in the previous quarter.

The announced growth rate is close to the rate forecast by the World Bank for the Chinese economy in 2009 (6.5 percent), but is 1.9 percentage points lower than the 8 percent target set by . (macauhub)