China 2007 trade surplus a record $262bn

By Richard McGregor in Beijing

Published: January 11 2008 07:46 | Last updated: January 11 2008 09:49

China’s trade surplus rose by nearly 50 per cent to a record $262bn in 2007, but import growth exceeded export growth in each of the final three months of the year, suggesting that the country’s controversial trade imbalance may be peaking.

In another first, the European Union also replaced the US as China’s largest export market. Sales to the expanded EU grew by 29.2 per cent in 2007, compared to just 14 per cent to the US.

(http://ft.com)