Russia’s trade with China surges to more than $107 billion

14 January, 2019, 20:25 | Author: Regina Silva

China's global trade volume rose a year ago but its surplus with the world fell 16.2% to $351.76 billion in 2018, as imports rose 15.8% while exports gained 9.9%.

The trade gap widened because China's exports to the USA rose 11.3 percent previous year while imports from the US rose by a paltry 0.7 percent. In 2017, mutual trade amounted to $84.07 billion demonstrating a growth of 20.8 percent.

China's exports grew by 9.9 percent to $2.48 trillion, and imports increased by 15.8 percent to $2.14 trillion, he added.

China's exports have fallen to their lowest point in two years while imports are also down.

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Washington has been clamouring for an end to the forced transfer - and even theft - of American technology and intellectual property, as well as steep government subsidies for Chinese companies. That reflects the impact of Beijing's retaliatory tariffs and encouragement to importers to buy more from non-U.S. suppliers.

Last year's trade surplus was $352 billion, the figures showed.

The Trump administration also wants Beijing to buy more American goods to narrow a yawning trade gap - a sticking point for U.S. president - and allow foreign players better access to the Chinese market.

"Private enterprises contributed more than half to China's foreign trade growth in 2018, a bright spot of China's foreign trade development", said the spokesman.

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