China Trade Ramping Back Up

The value of goods imported to and exported from China in February 2010 reached $181.43 billion, a jump of 45 percent year over year, according to a report from Industrial Info Resources (IIR), Sugar Land, Texas.

The value of exports from the nation reached $94.5 billion, an increase of more than 45 percent year over year while the nation’s import value of $87 billion was a jump of slightly less than 45 percent compared to February 2009. The figures were announced by the General Customs Administration of China.

The increased trade activity may bode well for recyclers in terms of both demand for secondary raw materials in China and the generation of more old corrugated containers (OCC) and other packaging grades in North America and Europe. The increased activity also will likely lead to higher freight rates and tighter container supplies.

From January and February 2010 combined, the cumulative import and export value reached $386 billion, again representing a jump of 45 percent compared to one year ago.

In January through February 2010, the European Union was Chinas largest trade partner, with the bilateral trade value reaching $65.5 billion, an increase of 35 percent year over year. The trade value with the United States reached $49.3 billion, an increase of 25 percent compared to the same two months in 2009.

In the first two months of 2010, the import volume of iron ore reached 96 million metric tons, an increase of 21 percent year over year. China’s import value of mechanical and electrical products reached $82 billion, a jump of 46 percent, and its import volume of vehicles reached 94,000 units, an increase of 110 percent compared to early 2009