M&C: China's trade surplus with Europe soars 31 per cent

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China's trade surplus with Europe soars 31 per cent

China's trade surplus with the European Union soared to 91.66 billion dollars at the end of last year, up 31 per cent from 2005, the commerce ministry said on Sunday. Total China-EU trade value rose 25 per cent to hit 272.3 billion dollars in 2006, with exports reaching 181.98 billion dollars, up 27 per cent year-on-year, and imports growing by 23 per cent to 90.32 billion dollars.

The European Union remained China's top trading partner last year, accounting for nearly 16 per cent of China's global trade, the ministry said on its website. China said it recorded a trade surplus of 70.12 billion dollars with the European Union in 2005, although one EU estimate put the surplus at about 106 billion euros (137 billion dollars).