China's export growth may drop to 10 percent this year after climbing 25.7 percent in 2007 due to weak external demand, a research unit under the Ministry of Commerce said in published comments today.
The country's 2008 trade surplus may drop to US$200 billion from a record US$262 billion last year, Li Yushi, director of the Chinese Academy of International Trade and Economic Cooperation, was quoted by the Shanghai Securities News as saying.
China's trade surplus declined 10.6 percent year on year to US$41.4 billion in the first quarter this year, the first time the quarterly figure headed southwards
The nation's export growth slowed to 21.4 percent in the first three months from 27.8 percent in the same period last year mainly because of weaker demand from the United States.
Chinese exporters are set to face tighter internal and external environments this year, which will cast heavier operational pressure on them, the research agency said in a report, according to the newspaper.
However, the country's future export growth may be helped by strong performance in exports of electromechanical products, according to Liu Haiquan, vice director at comprehensive department under the commerce ministry.
Electromechanical product exports jumped 23.1 percent from a year before in the first quarter and has big potential to post higher growth as overseas demand booms, Liu was quoted as saying.
Liu said that he was not aware of any further policies by the government to adjust export tax rebates or impose new import taxes, according to the newspaper.
(Shanghai Daily May 5, 2008)
