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China's foreign trade of agr products up 24.1% in Q1

May. 7, 2012 (China Knowledge) - The export and import value of agricultural products in China jumped 24.1% year on year to US$40.34 billion in the first quarter of this year, according to the latest figures released by the Ministry of Agriculture.

The country's exports of agricultural products climbed 5.6% year on year to US$14.47 billion in the first three months, and its imports of such products surged 29.5% to US$25.87 billion.

China recorded a deficit of US$11.4 billion from foreign trade of agricultural products, 81.5% more than in the same period of 2011.

In 2011, China's foreign trade of agricultural products grew 27.6% year on year to US$155.62 billion, comprising US$60.75 billion in exports and US$94.87 billion in imports, up 23.0% and 30.8% from 2010, respectively.

The country's import value of edible oil seeds rose 18.7% year on year to US$31.48 billion last year, accounting for over 20% of its total foreign trade of agricultural products.

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