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![China's trade with the European Union, its biggest trade partner, waned by 7.1 percent during the Jan-May period [Xinhua]](http://thebricspost.com/wp-content/uploads/2015/03/china_trade_data.jpg)
China’s trade with the European Union, its biggest trade partner, waned by 7.1 percent during the Jan-May period [Xinhua]
China’s trade with the European Union, its biggest trade partner, waned by 7.1 percent during the Jan-May period.
Imports slumped 18.1 per cent from a year ago to 803.33 billion yuan, bringing trade surplus to 366.8 billion yuan, up a substantial 65 per cent, data from the General Administration of Customs (GAC) showed on Monday.
In the meantime, total foreign trade slipped 9.7 per cent from a year earlier to 1.97 trillion yuan.
In the Jan.-May period, the country’s exports increased 0.8 per cent and imports decreased 17.2 per cent year on year, with foreign trade volume down 7.8 per cent, data showed.
Trade surplus in the first five months doubled to 1.33 trillion yuan, the GAC said.
Trade with the United States, the second largest trade partner, rose 2.8 per cent from Jan-May 2015.
Trade with the Association of Southeast Asian Nations (ASEAN) edged down 0.5 per cent, while China-Japan trade plummeted by 11.2 percent during this period.
The data also showed China bought more bulk commodities of crude oil and grain in the first five months, but the imports of iron ore, coal and refined oil products shrank, with prices of major goods down.
The imports of oil increased 4 percent year on year to 134 million tonnes and the iron ore lost 1.1 per cent to 378 million tonnes.
Source: Agencies
