SIP Import & Export Exceed USD 4 Billion in the First Month
Foreign trade in SIP kept on head-on growth in January 2007. Statistics show indicate that the total volume of import and export in January reached 4.28 billion US dollars, breaking the record of 4 billion and increasing 21.6% over the corresponding period of last year. Import amounted to USD 2.21 billion, and export USD 2.16 billion, increasing 17.8% and 25.6% respectively, with USD 40 million in favorable balance.
Both import and export in processing trade continued growth momentum in SIP, with a total volume of USD 3.69 billion, increasing by 17.9% with USD 130 million favorable balance. USD 4.11 billion, or 96%, of the foreign trade volume, were contributed by foreign-invested enterprises, and USD 150 million by private enterprises.
In January, SIP maintained good relations with major trade partners, and import and export showed sustained increase with Korea, Japan, USA, and EU. Korea and EU are the largest source for SIP import and export. Electrical and machinery remain the leading item of import and export, amounting to a total of USD 3.98 billion, increasing by 21% and making up 93% of the total. Medical and testing apparatus took up USD 1.11 billion in import and export, rubber products USD 80 million, ferrous metals and products USD 70 million, and chemicals USD 60 million.
Feb. 18, 2007