China-U.S. Trade Gap Grew to Biggest Ever in 2018

Daniel Fowler
January 14, 2019

At the same time, China's imports from Russian Federation grew by 42.7 percent, reaching $59.08 billion.

The agency noted that previous year Russian imports of Chinese goods increased by 12 percent to $47.98 billion.

China's exports rose 9.9 percent in 2018, its strongest trade performance in seven years, despite growing disruptions from an escalating trade war with the United States, customs data showed on Monday.

Private enterprises played a bigger role, accounting for 39.7 percent of the total foreign trade, up 1.1 percentage points compared with 2017.

"Our country's export and import have reached record highs, and there is reason to hope that we will continue to remain the world's largest trading nation".

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With US tariffs in place, the gloomy export picture has reinforced the need for Beijing to rely on its legion of consumers to grow its economy. Russian Federation is now ranked as China's tenth biggest trade partner. China's surplus is the U.S.'s trade deficit.

But a slew of bad economic data has added to concerns about China's economy, which is expected to have eased to around 6.5 percent growth in 2018, down from 6.9 percent in 2017.

US President Donald Trump has repeatedly slammed China's trade surplus with the US and the country's allegedly unfair trade practices.

"Private enterprises contributed more than half to China's foreign trade growth in 2018, a bright spot of China's foreign trade development", said the spokesman.

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