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To: russwinter who wrote (52805)2/6/2006 9:03:04 AM
From: shades  Respond to of 110194
 
J China's Early Harvest Program Deficit With Asean Rises

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BEIJING (Dow Jones)--China's trade deficit under its Early Harvest Program with Asean grew further in 2005, the Ministry of Commerce said in a notice on its Web site.

China's imports of goods covered by the program - an agreement to slash tariffs on mainly agricultural products - rose 13.2% in 2005 to $1.72 billion, while its exports to Asean rose 10.7% to $1.07 billion, giving a trade deficit of $650 million.

That is $90 million more than the deficit of $560 million in 2004, the ministry said in a notice posted Friday.

Among China's major imports under the program, its imports of cassava rose 22.4% to $420 million, of anthracite 107.4% to $370 million, and of palm oil 48.9% to $100 million.

China's major exports included garlic, apples, and oranges, which accounted for 41.1% of the country's total export value under the EHP.

Thailand and Vietnam were major exporters to China, while Malaysia and Indonesia were China's major export destinations, according to the ministry.


-Helen Sun contributed to this article; Dow Jones Newswires; 86-10-6588-5848; helen.sun@dowjones.com

-Edited by Andrew Bullard