China's agri trade deficit increases 14 times
China's trade deficit in agricultural products shot up 14.3 times to USD 7.57 billion in the first five months of 2008 as compared to a year earlier.
By PTI |
BEIJING: China's trade deficit in agricultural products shot up 14.3 times to USD 7.57 billion in the first five months of 2008 as compared to a year earlier, the Ministry of Agriculture said.
Foreign trade in agricultural products was valued at USD 39.93 billion, a 36.1 per cent rise year on year, including USD 16.18 billion in export value, up 12.2 per cent, and USD 23.75 billion in import value, a 59.2 per cent jump.
China's net cereal exports dropped drastically in the five-month period and trade deficit in animal by-products increased, the ministry, quoted by official Xinhua news agency said.
During the January-May period, China exported 1.19 million tons of cereals, down 76.6 per cent from a year-earlier, but imported 911,000 tons, a figure up by 14.2 per cent. The net exports stood at 276,000 tons, down 93.5 per cent.
The Ministry said USD 1.65 billion worth of animal by-products were sold abroad, up by 10 per cent, while USD 3.28 billion worth were imported, up 35.9 per cent. The trade deficit was USD 1.63 billion, which was up 78.6 per cent.
China imported 3.58 million tons of edible vegetable oil, up 11.2 per cent. The total included 1.13 million tons of soyabean oil, up 7.6 per cent, 98,000 tons of rapeseed oil, down 12.8 per cent, and 2.33 million tons of palm oil, up 17.1 per cent, the report said.
Foreign trade in agricultural products was valued at USD 39.93 billion, a 36.1 per cent rise year on year, including USD 16.18 billion in export value, up 12.2 per cent, and USD 23.75 billion in import value, a 59.2 per cent jump.
China's net cereal exports dropped drastically in the five-month period and trade deficit in animal by-products increased, the ministry, quoted by official Xinhua news agency said.
During the January-May period, China exported 1.19 million tons of cereals, down 76.6 per cent from a year-earlier, but imported 911,000 tons, a figure up by 14.2 per cent. The net exports stood at 276,000 tons, down 93.5 per cent.
The Ministry said USD 1.65 billion worth of animal by-products were sold abroad, up by 10 per cent, while USD 3.28 billion worth were imported, up 35.9 per cent. The trade deficit was USD 1.63 billion, which was up 78.6 per cent.
China imported 3.58 million tons of edible vegetable oil, up 11.2 per cent. The total included 1.13 million tons of soyabean oil, up 7.6 per cent, 98,000 tons of rapeseed oil, down 12.8 per cent, and 2.33 million tons of palm oil, up 17.1 per cent, the report said.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
