China has increased
its import and export over the years. Its total value
of import and export in 2006 reached USD 1.76 trillion
and this raised China to become the world's third
largest nation after U.S. and Germany.
China has a total value
of export of USD 762 billion in 2005 which is an increase
of 67% since 2000. This is due following reasons:
First, China's exported products increased in its
competitiveness and expanded their shares in the international
market. Second, China's utilization of foreign investment
increased over the years achieving USD 69.5 billion
in 2006. Foreign investments results in the growth
of export production. Third, reform on foreign trade
system continued since early 19th centuries, and results
the rose of partnerships and private enterprises which
contribute to the exporting numbers.
China has a total
value of import of USD 660 billion in 2005, which
is an increase of 66% since 2000. This is due to the
increase of living standards in China which allow
Chinese people to import goods from the international
market. Furthermore, the influence of price rises
in the international market and the further decrease
of custom tax level results the growth of import in
China.
USD in billion
