Sunday, November 2, 2008

Chinese exports take 8.8% of global share in 2007

China's export sector was ranked the second largest in the world in 2007 with an 8.8% share of the global market, the China Securities Journal reported, citing a National Bureau of Statistics report on the country's economic indicators over the past 30 years.

The country has also been the largest developing country recipient of foreign direct investment (FDI) for 15 consecutive years.

China's exports have expanded 18.1% a year on average since 1979, slightly faster than the growth in imports. Exports of industrial products and services accounted for 94.9% of total exports in 2007; within that, services accounted for 10.3% of China's total exports and 4% of the world's total exports of services, ranking China behind the United States, Britain, Germany and Japan.

FDI in China was worth US$83.5 billion in 2007, representing 5.4% of the world's total FDI and 19% of the total directed towards developing economies. As at the end of 2007, China was host to 280,000 foreign-funded firms with a combined investment of US$2,110 billion.

They employed 50 million people and exported US$1,255 billion worth of goods in 2007, accounting for 57.7% of the nation's total. They paid US$144.76 billion (RMB990 billion) in corporate taxes, accounting for 20% of the nation's total.