China Machine Tool Industry Sees Decrease in Trade Deficit for First Time

Resource from: CBCC Likes:2936

Sep 28,2007

China Machine Tool Industry Sees Decrease in Trade Deficit for First Time China reportedly imported machine tools valued at US$5.407 billion in the first six months, an increase of 4.01% year on year, up 4.45 percentage points from 2006. Exports totalled US$2.243 billion in value, an increase of 30.59% year on year, up 2.8 percentage points from 2006. Consequently the trade deficit saw a decrease of US$316 million. It is the first time for the machine tool trade deficit to drop, partly because the trade deficit in metalworking machine tools fell to US$2.6 billion, a drop of US$247 million from a year earlier.

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