Zhejiang's foreign trade may rebound

Apr. 21, 2009 (China Knowledge) - Eastern China's Zhejiang Province, experienced narrowing declines in its exports and imports in March, the official Xinhua News agency reported, citing recent statistics released by the local customs.

Zhejiang's export value in March fell only 8.9% year on year to US$9.81 billion, compared with the 38.3% year-on-year shrinkage recorded in February. The March figure represented a 78.2% increase over February.

The province's import value in March stood at US$4.11 billion, up 28.9% from the previous month, but down 16.3% from a year earlier, with the year-on-year decline 1.2% smaller than that of February.

The total value of China's exports and imports in March saw a year-on-year decline of only 20.9%, compared with the 24.9% drop recorded in February, according to an earlier report from China Knowledge

In the first three months of this year, Zhejiang's total foreign trade volume reached US$37.26 billion, representing a decrease of 19.3% year on year, which is a decline 5.6% less than the national average.

In 2008, the province's total foreign trade volume hit US$211.2 billion, ranking fourth in the country. Its exports in general trade and garments were the largest among the nation.