China''s textile trade surplus tops $100 billion

Mumbai: China has reported a $105 billion surplus in its textile trade in the first ten months of the current year with exports worth $120 billion and imports worth $14.6 billion. While exports for the 10-month period rose 23.94 per cent year-on-year, imports of textiles and clothing rose by 5.66 per cent, latest customs statistics showed.

In value terms, China''s export of textile and clothing products rose 17.67 per cent from a year-ago period to $135 billion, accounting for 9.48 per cent of the country''s total trade. EU was the top importer of China-made textile and clothing products followed by Hong Kong, the US and Japan.

Europe saw imports of China-made textile and clothing products rise 30.55 per cent, to $29.9 billion, over the same time period. Import from the EU reached $18.71 billion, with a year-on-year growth of 15.32 per cent, news agency reports said.

Imports of China-made textiles and clothing products by Asian countries were valued at $57.8 billion, showing a year-on-year growth of 21.48 per cent during the period.

China''s export of textile and clothing to the US rose 12.55 per cent to $16.97 billion.

China imported $17 million worth of textiles and clothing from Canada in the first ten months, a sharp rise of 70 per cent. During the period, its import from Turkey grew by 40 per cent year-on-year. China, meanwhile, proposed to hold its first strategic economic dialogue with the US from December 14 to 15 to enhance mutual understanding and cooperation between the two countries.

Chinese vice premier Wu Yi and US treasury secretary Henry Paulson, both special envoys of the two heads of states, will co-chair the dialogue, the Chinese foreign ministry said.