Imports of Machine Tools Significantly Increased

According to the data released by the General Administration of Customs of China on March 10, 2012: In February 2012, China’s import and export value was 260.425 billion U.S. dollars, an increase of 29.4% year-on-year. Among them, the import of machine tools has obviously rebounded.

Among them, exports were 114.471 billion U.S. dollars, an increase of 18.4% year-on-year; imports were 145.954 billion U.S. dollars, an increase of 39.6% year-on-year, and the trade deficit was 31.483 billion U.S. dollars. The general trade recorded a deficit of 37.34 billion U.S. dollars, the highest level since 2004, indicating that domestic demand has recovered in the near term relative to the continued weakness in external demand.

Mainly reflected in the significant rise in imports of industrial raw materials such as petroleum, copper and other commodities as well as imports of automobiles, machine tools and other commodities. However, due to the sluggish external demand, the total import value of processing trade in February was the lowest level since 2011.