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China Briefings

Reports on China issued by Samsung Economic Research Institute

China’s Export Market and Changes in Product Structure

China’s Export Market and Changes in Product Structure

Samsung Economic Research Institute Beijing Office

Jan. 6, 2009

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Chinese exports, the fuel for double-digit growth in recent years, is contracting fast, causing massive factory closures and an armies of newly unemployed as the global financial crisis and recessions in the US and Europe curb private spending.

Accumulative exports up to the third quarter of 2008 reached US$1.74 trillion but the growth rate of exports fell to 22.3%, down 4.8 percentage points from a year ago. The accumulative trade surplus for the same period fell to US$180.9 billion, down 2.6% from a year earlier. Fourth-quarter 2008 trade data will likely be even bleaker.

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