DISTRIBUTION OF ER CIT 80-001,JAN 80, CHINA: INTERNATIONAL TRADE QUARTERLY REVIEW SECOND QUARTER, 1979 BY CHINA DIVISION

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP86B00985R000300050004-1
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 47
• Document Creation Date: December 12, 2016
• Document Release Date: August 14, 2001
• Sequence Number: 4
• Publication Date: January 13, 1980
• Content Type: LIST

Distribution of ER CIT 80-001, Jan 80 China: International. Trade Quarterly Review
AR_PC~y I t 8~[r Ikea $9O A ri ~
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 Assessment
Center
China: International Trade
Quarterly Review
Second Quarter, 1979
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January 1980
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4 ..- yr ssessmenf
China: International Trade
Quarterly Review
Second Quarter, 1979
Research for this report was completed
on 21 December 1979.
Comments and queries on this unclassified report
are welcome and may be directed to:
Director for Public Affairs
Central Intelligence Agency
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[phone]
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January 1980
 This is the second in a series of quarterly reports on China's foreign trade
that replace the annual publication, China: International Trade. In addition
to the text and tables highlighting trends in trade through the first half of
1979, this issue contains special sections providing commodity and balance-
of-payments data for 1978. Separate tables include miscellaneous trade
information such as Hong Kong reexports of Chinese goods by destination
and commodity composition and a tabulation listing credits recently made
available to China. The data-with the exception of an aggregate estimate
of the cost, insurance, and freight (c.i.f.) value of imports in table 15-are
presented on a merchandise trade basis, with both exports and imports
valued free on board (f.o.b.) at port of origin.
The quarterly trade data are derived from a computerized series of partner
country statistics that is automatically updated as new information is made
available. The methodology for this program is spelled out in appendix A of
the first quarterly, published in September 1979.* The most recent
quarterly estimate is made with 73 percent of trade having been actually
reported and thus can be expected to be adjusted somewhat in later issues.
Earlier quarters with much more complete information are of course
expected to change only marginally.
The commodity data are also based on the official statistics of China's
trading partners, where available. Statistics for Chinese trade with the
developed countries are essentially complete, but commodity data for trade
with the less developed countries are fragmentary. Statistics on the
commodity composition of China's trade with the USSR and most East
European countries are available from Soviet and East European sources.
Statistics are not available, however, for Chinese trade with other
Communist countries, and estimates for these countries-as with many of
the less developed countries-are based on trade agreements and other trade
indicators.
* CIA, ER CIT 79-001, China: International Trade Quarterly Review, First Quarter, 1979,
September 1979.
 Billion US S
Billion US S
4 -_
I I I I l 1 I I I I I I I I I I I I I I 1111111
1970 71 72 73 74 75 76 77 78 79
Developed Countries
_I IIIIIIIIIIIIIII111111111111111111111111
I
1970 71 72 73 74 75 76 77 78 79
1 f.o.b.
]v
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 China: International Trade
Quarterly Review
Second Quarter, 1979
China's trade rebounded in the second quarter from a
largely seasonal decline in the first quarter. Much
greater emphasis was given to expansion of exports and
to the financing of China's suddenly substantial
current account deficit while slowing purchases of
capital equipment. These moves should allow a
steadier increase in trade over the long run.
Chinese exports rebounded from their first-quarter
decline to US $3.1 billion,* 37 percent ahead of the
same period of 1978. For the half, exports were up by
34 percent to $5.9 billion. Although complete
commodity statistics are not yet available, partial data
indicate that income from oil and textile exports is
rising sharply. In US dollar terms, oil income was up
over 40 percent from the first half of 1978. New
customers, including the United States and Brazil, and
rapid increases in product exports to Hong Kong have
probably increased total oil exports to a rate well above
300,000 barrels per day (b/d) from 270,000 b/d in
1978. Textile exports, China's leading export item,
were up in value approximately 50 percent to Hong
Kong, Japan, and the United States in the first half.
China's imports also regained some steam following a
flat first quarter and at $3.7 billion were 55 percent
above last year's second-quarter level. First-half
imports, at $7.2 billion, were an astonishing 69 percent
above the depressed first half of 1978. Steel undoubt-
edly continued to be the largest import item, with more
than 2.5 million tons imported from Japan alone.
Wheat and corn imports, mostly from the United
States, Canada, Australia, and Argentina, totaled 5.8
million tons in the first half, compared with 4.1 million
tons in the first half of 1978. Imports of capital goods
were 130 percent (in value) over the first half of 1978,
as machinery ordered late last year began to arrive.
quarter. All but one of the $2.6 billion worth of
Japanese contracts that had been suspended in Febru-
ary were reinstated, but very few new contracts were
signed. The most important new deal was probably a
$250 million contract for an 800-megawatt Czechoslo-
vak power plant. Negotiations resumed, but at a slow
pace, for several billion dollars in capital equipment
concentrated heavily in the electric power and mining
industries.
As shown in table 1, the increase in China trade has
been spread fairly evenly among its major trading
partners. The only significant shift among the top five
was a 4-percentage point increase in the US share of
China's imports at the expense of an identical decrease
in Japan's share. These five countries continue to
account for over half of China's trade. Interesting
developments among more minor trading partners
include an upsurge in indirect trade with Taiwan and a
sharp decline in Soviet exports probably stemming
from China's invasion of Vietnam.
China's general economic policy adjustments made
early in 1979 were in part due to foreign exchange
problems. Negotiations were proceeding for too much
foreign equipment without attention to financing and
repayment considerations. Beijing tackled both these
problems in the second quarter by arranging $27
billion in long- and short-term credit (see table 12) and
by seeking product compensation schemes where
foreign exporters of capital equipment would be paid
back in products. In another move to reduce foreign
exchange outlays, the National People's Congress
meeting in June passed a joint venture law allowing
direct foreign investment in China.
The lull in major capital equipment purchases, which
began in January 1979, continued through the second
* Unless otherwise indicated, all statistics are on a free-on-board
(f.o.b.) basis.
Approved For Release 2001/12/05: CIA-RDP86B00985R100300050004-1
 Billion US $
With Non-Communist Countries
Following a $1 billion current account deficit in the
final quarter of 1978-including an estimated $600
million for plant payments-Beijing urgently needed
credit to cover first- and second-quarter deficits of
approximately $600 million each. By midsummer, the
Bank of China's effort to attract loans had successfully
netted $6 billion in short-term and $21 billion in
medium- and long-term credits at very attractive rates.
Late in the year new agreements increased long-term
loan commitments by $400 million.
IllllliillillllilllllliiIiiiliiiIiiil~tt1
1970 71 72 73 74 75 76 77 78 79
1 1 1 I i l l I i l l I i i I l i I I t I I I I I 1970 71 72 73 74 75 76 77 78 79
A large portion-$17 billion-of the medium- and
long-term credit is underwritten by Japanese, Cana-
dian, and West European governments. These low-
interest and often government-subsidized credits are
designed to encourage Chinese purchases and are
generally tied to specific purchases of capital equip-
ment. Few such purchases have been made since these
credit lines were arranged. Another $240 million in
credit has recently been made available on an aid basis
with very low interest. The specific projects to which
these credits are tied are not yet under way.
For the immediate problem of meeting balance-of-
payments deficits, China has depended on commercial
borrowings. In the second quarter much of this
borrowing was in the form of short-term time deposits
placed by foreign banks in the Bank of China, while
medium-term credit was being arranged. The Bank of
China has been adept at arranging medium-term
credit at a spread of only 0.5 percent above the London
Interbank Offer Rate (LIBOR)-a spread usually
reserved only for the best customers. LIBOR has
recently jumped to over 14 percent, however, making
such borrowing much more expensive. Chinese offi-
cials have stated that Eurodollar borrowing will
decline as the cheaper official credits become
available.
The announced Chinese trade targets for 1979 of $12
billion in exports and $15.5 billion c.i.f. (or an
estimated $14.35 billion, f.o.b.) in imports appear to
have been within reach. Preliminary third-quarter
results suggest that exports were expanding well over
the strong second-quarter levels and for the year could
 exceed the plan by at least $1 billion. Oil price
increases-in line with OPEC price hikes-helped.
Imports-especially steel-were growing more slowly
and possibly did not reach the target level. Current
account deficits for the third and fourth quarters are
expected to have been slashed from first-half levels.
Together with the availability of long-term credit, this
balance-of-payments improvement may encourage re-
newed Chinese interest in the major capital goods
purchases required to get the modernization program
on track.
The commodity composition of China's trade in 1978
continued to reflect the role that foreign trade plays in
Beijing's modernization effort. Light manufactures
captured an increasing share of exports, while the
share of foodstuffs in total overseas sales continued to
slip. Imports, on the other hand, were dominated by
heavy industrial goods and technology. Purchases of
foreign foodstuffs and raw materials occupied a
declining share of total imports.
Exports-Pushing Light Industry
China's overall exports grew 22 percent in 1978,
largely on the strength of sales of manufactured goods.
These goods accounted for 47 percent of total export
value in 1978, compared with 45 percent one year
earlier and 42 percent in 1970. Sales of labor-intensive,
light industrial products-goods for which China has a
comparative advantage-proved especially strong.
Textile products, including clothing, fabrics, and
miscellaneous products, were up 32 percent from
1977's level. Beijing's emphasis in recent years on
improved quality and marketing techniques appears to
be at least partly responsible for China's successs in the
textile market. Other manufactured goods, including
iron and steel and nonferrous metal products, also
made rapid advances, although they continue to
account for less than 3 percent of China's total sales.
By contrast to manufactured goods, the share of
foodstuffs in foreign sales continued to decline. Food
shipments rose only 14 percent in 1978 and accounted
for 22 percent of total exports. By comparison, in 1970
foodstuffs made up 32 percent of the value of China's
overseas sales. Food exports to China's largest mar-
ket-Hong Kong-were up only 14 percent, compared
with 1977, while the value of shipments to the
Communist countries actually declined.
Exports of crude materials increased by 23 percent in
1978 to account for one-fourth of China's total sales.
The value of crude oil and petroleum products rose 20
percent during the year, despite stagnant prices, as
shipments reached a record 13.5 million tons. Coal
exports rose more than 50 percent in 1978, yet made up
only about 1 percent of China's total exports. Textile
fiber sales-mainly silk-were up 38 percent from the
1977 level but continued to account for only 4 percent
of total Chinese sales.
Imports-Relying on Foreign Suppliers
for Heavy Industrial Needs
Overall imports rose 56 percent in 1978 as Beijing
moved to purchase heavy industrial products and
machinery to speed up its modernization effort. Iron
and steel imports nearly doubled in value during the
year to account for 28 percent of total imports. In
volume terms steel purchases jumped from 5.3 million
tons in 1977 to 8.6 million tons. Machinery and
equipment imports also took a sharp upturn, rising 64
percent above 1977. Along with the upturn in actual
equipment purchases, Beijing approved contracts
worth more than $4 billion * for future imports of
whole plants.
Beijing continued to rely on the West to meet shortfalls
in domestic foodstuffs production. Grain imports
climbed 43 percent in value during 1978. Purchases of
foreign sugar, down slightly from the 1977 level,
continued to cost Beijing nearly $300 million per year.
Although the share has declined slightly since 1970,
foodstuffs still account for about 13 percent of total
import value. Chemical imports-up 35 percent in
1978-accounted for 11 percent of 1978 purchases
abroad, compared with nearly 18 percent of 1970
imports.
* An additional $2.6 billion in contracts was signed but was
suspended until May 1979.
 Raw material imports rose about 23 percent in 1978.
Declining purchases of oilseeds, natural rubber, and
wood pulp were offset by a 58-percent increase in the
value of raw cotton purchases. Even with relatively
good domestic cotton crops in 1977 and 1978, Beijing's
import demand remained high as textile exports made
rapid advances. Synthetic fiber imports were up
9 percent during 1978 as recent increases in domestic
capacity helped meet China's growing requirements.
Chinese officials have released a rudimentary hard
currency current account balance for 1977 and 1978.
These data are included in table I I along with previous
CIA estimates of current account balances with non-
Communist countries, adjusted to a basis of export
f.o.b. and import c.i.f. to correspond with Chinese
practice.
The higher CIA export estimates are at least in part
due to the difference in coverage between non-
Communist trade and hard currency trade. A small
portion of China's trade with LDCs is handled on a
barter basis. China's surpluses in these cases would not
reflect hard currency earnings but rather swing credits
in the barter accounts. The differences in the data on
imports and invisibles could result from CIA placing
downpayment expenditures in service account esti-
mates and China placing these expenditures in the
import data. When adjusted accordingly, Chinese data
show that imports total $9.4 billion and invisiblcs $630
million, very close to the CIA estimate.
The deficit in 1978 was financed largely by reducing
foreign exchange reserves, which had been built up
during 1976 and 1977, and by increasing foreign bank
deposits in the Bank of China. Little new medium- or
long-term debt was incurred. Total outstanding debt
probably increased to close to $2 billion from $1.3
billion in 1977. (See CIA ER 78-10721, China's
International Trade, 1977-78, December 1978, for
1970-77 balance-of-payments data.
 China: Major Trade Partners,
Second Quarter
Chinese Exports
Million US $
Percent of Total
Chinese Exports
Million US $
Percent of Total
Chinese Imports
52
53
Japan
458
672
20
22
1,036
32
28
Hong Kong
527
693
78
1
2
West Germany
80
102
4
3
227
United States
86
144
4
5
119
314
5
9
166
6
5
Approved For Release 2001/12/05: CIA-RDP86B00985h000300050004-1
 1977
11
Non-Communist countries
1,557.8
1,645.3
1,934.9
1,793.9
1,957.3
2,139.1
2,555.8
2,434.5
2,725.7
6,048.0
6,730.9
8,446.0
Developed countries
683.0
698.1
859.0
828.9
912.1
921.1
1,115.1
1,162.9
1,306.2
2,697.4
2,939.3
3,777.1
East Asia and Pacific
375.0
374.3
505.0
451.5
494.5
522.9
639.4
598.7
717.1
1,421.7
1,631.1
2,108.3
Australia
30.0
28.9
31.7
35.5
32.0
31.5
41.7
50.1
38.6
100.2
124.2
140.7
Japan
340.6
340.8
466.1
411.6
457.9
486.8
591.2
543.4
671.6
1,307.3
1,485.7
1,947.5
North America
72.6
77.3
60.1
94.5
112.3
102.1
97.6
_
136.0
_ 179.8
291.5
280.4
406.5
Canada
23.5
20.5
13.8
15.7
26.1
21.1
19.9
34.7
35.3
89.6
77.3
82.8
United States
49.2
56.8
46.3
78.7
86.2
81.0
77.7
101.3
144.5
201.8
203.1
323.6
Western Europe
235.4
246.5
293.8
282.9
305.3
296.1
378.1
428.1
409.3
984.2
1,027.8
1,262.4
Belgium
9.0
7.7
10.2
10.2
9.7
8.7
10.6
12.4
13.5
45.6
35.1
39.1
39.7
46.9
West Germany
54.8
64.3
73.9
Italy
27.8
31.4
44.9
33.2
35.4
35.9
69.6
58.4
69.0
134.9
141.6
174.1
Netherlands
21.0
21.3
21.7
27.2
25.2
28.7
28.0
26.9
32.8
77.7
82.3
109.1
Norway
2.2
2.3
2.9
2.6
2.8
2.1
3.4
3.5
3.0
7.2
9.6
11.0
Spain
7.5
8.4
11.2
12.8
15.1
12.0
19.5
27.2
22.6
41.5
36.2
59.4
Sweden
13.5
11.6
12.2
11.7
9.9
12.1
15.1
15.7
14.8
44.0
50.7
48.8
Switzerland
7.9
8.2
8.5
10.8
10.3
11.0
11.4
11.0
10.0
31.5
34.0
43.5
United Kingdom
37.1
37.0
47.1
43.7
41.7
45.4
55.0
92.4
61.1
135.6
159.4 _
185.7
Less developed countries
874.8
947.2
1,075.9
965.0
1,045.2
1,218.0
1,440.7
1,271.6
1,419.5
3,350.6
3,791.6
4,669.0
Southeast Asia
584.9
644.8
722.3
657.1
723.7
841.3
981.1
845.2
947.0
2,287.5
2,517.7
3,203.2
Hong Kong
397.5
433.2
511.0
463.3
526.8
580.3
678.9
597.0
693.3
1,593.3
1,735.4
2,249.4
Indonesia
42.1
41.7
44.0
22.9
24.5
27.1
32.4
18.3?
20.3*
125.5
146.2
106.9
Malaysia
29.2
39.6
35.3
38.7
46.1
60.2
65.6
49.2
43.8
128.0
133.8
210.6
Philippines
19.5
21.2
27.0
22.5
25.4
28.7
35.7
23.0
27.2
53.9
79.1
112.2
Singapore
58.4
69.4
66.5
75.6
66.4
90.8
93.0
85.5
816*
254.0
261.8
325.8
Thailand
15.9
16.1
9.4
10.0
10.5
27.7
31.7
41.2*
45.8'
68.3
64.0
79.9
 Destination
1977
1978
1979
Annual
11
III
IV
1 11
111
IV
1 11
1976
1977
1978
South Asia
21.9
22.7
30.8
26.3
26.5
39.0
53.2
47.1
52.3
77.2
106.6
145.0
Pakistan
10.0
9.6
14.4
15.8*
16.7*
18.5*
22.2*
20.7*
23.0*
61.0
51.7
73.2
Sri Lanka
6.8
7.1
8.8
.0
1.3
4.2
11.5
8.2*
9.1 *
6.3
29.6
17.0
Middle East
146.3
136.9
155.8
122.0
126.4
147.8
169.9
158.0
175.6
428.0
585.8
566.2
Bahrain
14.7
11.7
11.2
4.3
4.6
5.1
6.1
5.6*
6.3*
36.6
59.2
20.0
Iran
13.1
13.7
17.0
12.9*
13.8*
15.2*
18.2*
17.0*
18.9*
89.0
72.6
60.0
Iraq
12.3
11.6
14.4*
13.4*
14.2*
15.7*
18.9*
17.6*
19.6*
51.0
48.1
62.3
Kuwait
36.3
29.0
33.2
23.0
21.8
21.4
25.7*
24.0*
26.6*
71.3
123.7
92.0
Syria
12.2
12.2
10.4
7.9
7.3
19.0
13.2
11.9*
13.2*
31.1
43.5
47.4
North Africa
31.5
31.3
42.9
35.8
36.6
40.7
48.2
45.5
49.2
132.3
145.2
161.3
Egypt
10.4
10.9
13.4
11.1
11.9
13.2
15.7
14.7*
16.3*
39.2
45.3
52.0
Libya
10.3
9.0
10.4
9.7*
10.3*
11.5*
13.7*
12.8*
14.3*
59.0
47.4
45.3
Sub-Saharan Africa
78.2
97.8
108.4
107.1
109.5
127.8
158.3
147.7
164.2
381.9
383.1
502.8
Nigeria
25.4
32.7
36.0
32.5
35.0
38.7
46.1
43.0*
47.8*
128.0
133.5
152.4
Sudan
5.1
5.4
6.7
10.5
11.3
12.5
14.9
13.9*
15.5*
25.3
26.9
49.3
Tanzania
4.2
4.4*
5.5*
5.1*
5.4*
6.0*
7.2*
6.7*
7.4*
37.8
18.7
23.7
Zambia
2.5
2.6
1.8
1.7*
1.8*
2.0*
2.4*
2.2*
2.5*
13.2
8.5
7.9
Latin America
11.9
13.7
15.6
16.7
22.5
21.4
29.9
28.2
31.2
43.7
53.2
90.6
Argentina
0.1
0.2
0.3
0.4
0.4
0.6
0.7*
0.7*
0.8*
0.2
0.8
2.1
Brazil
0.1
0.1
0.1
.0
0.1
0.1
6.9
6.4*
7.1*
0.3
0.4
7.0
Peru
0.2*
0.2*
0.3*
0.3*
0.3*
0.3*
0.4*
0.3*
0.4*
0.8
0.9
1.2
 1978
1979
1
11
III
IV
I II
1976
1977
1978
Communist countries
291.4
290.7
462.1
335.2
303.1
366.1
444.3
339.9
364.2
1,229.3
1,353.8
1,448.6
USSR
27.5
19.3
92.4
67.8
31.7
64.3
93.5
43.0
35.9
178.5
177.8
257.3
Eastern Europe
156.3
158.7
230.4
198.2
197.2
219.6
252.8
205.5
226.8
541.3
706.2
867.8
Czechoslovakia
20.4
21.4
26.4
29.1
31.2
34.5
East Germany
25.2
26.4
32.6
29.5
31.7
35.1
41.8
39.0*
43.3*
96.0
110.0
138.0
Hungary
_2.2
5.9
19.1
10.3
14.7
22.6
18.3
6.3
7 f *
26.7
35.7
65.8
Poland
12.0
4.6
24.5
18.0
18.6
23.1
31.6
13.2
17.8
39.5
54.4
91.3
Romania
62.6
65.6
81.0
64.6
69.3
76.7
91.4
85.3*
94.7*
201.9
273.2
302.0
Yugoslavia
9.2
9.0
14.8
15.5
15.0
20.1
19.7
15.0
12.0
15.2
35.9
70.2
Other'
107.6
112.7
139.2
69.2
74.2
82.2
Developed countries
100.00
100.00
100.00
100.00
100.00
100.00
100.00
99.94
99.89
100.00
100.00
100.00
Less developed countries
96.65
94.84
92.87
85.99
85.66
85.92
81.80
63.25
55.96
96.51
95.15
84.61
Communist countries
100.00
100.00
100.00
_
97.71
97.32
97.53
97.57
22.81
18.04
100.00
100.00
97.54
' Country listings for any given area are not exhaustive: only major
trade partners are presented. Asterisks designate country data that
are extrapolated and are subject to change. See tables 8 and 9.
2 Kampuchea, Cuba, Mongolia, Laos, North Korea, and Vietnam.
' Includes quarterly data that have been interpolated from annual
trade partner data.
 1978
1979
1
II
111
IV
I
II
World
1,399.3
1,915.3
2,069.7
1,879.3
2,365.8
2,551.0
3,521.1
3,510.0
3,666.7
5,579.7
6,616.5
10,317.3
Non-Communist countries
1,197.5
1,626.0
1,701.2
1,601.9
2,060.3
2,210.3
2,980.2
3,057.3
3,238.6
4,501.8
5,549.6
8,852.8
Developed Countries
810.6
1,230.1
1,359.7
1,331.1
1,677.7
1,818.7
2,440.5
2,453.5
2,580.8
3,768.3
4,166.0
7,268.1
East Asia and Pacific
434.9
792.7
754.3
657.8
902.7
895.6
1,165.7
1,155.3
1,220.1
1,954.6
2,453.5
3,621.9
551.9
497.6
754.2
773.4
1,048.7
1,000.7
1,035.6
1,665.8
1,954.9
3,073.9
169.7
175.9
243.6
380.3
506.9
523.3
454.2
334.7
517.8
1,306.7
United States
43.1
27.3
81.8
97.5
119.1
241.9
406.1
395.3
314.4
135.0
171.3
864.6
Western Europe
235.2
321.7
435.7
497.4
531.4
542.8
767.9
774.9
906.5
1,479.0
1,194.7
2,339.5
Belgium
9.2
18.9
16.1
38.8
45.9
44.7
76.0
53.9
44.9
40.0
48.0
205.4
France
14.2
20.8
27.0
30.9
47.0
49.5
71.8
97.7
72.4
354.6
95.3
199.2
West Germany
114.0
125.0
165.7
250.7
227.3
223.6
293.6
322.0
389.2
622.0
500.7
995.2
35.8
38.8
42.5
40.9
66.2
65.2
87.7
126.9
88.9
188.4
20.9
19.8
18.9
25.5
70.8
59.2
37.3
38.9
52.5
135.0
55.5
24.3
11.8
16.0
7.7
13.0
12.3
18.4
96.3
59.7
Spain
3.2
6.1
8.5
11.0
16.6
13.3
25.4
34.1
42.1
17.4
21.3
66.3
Sweden
7.6
18.1
14.8
9.5
14.1
23.4
37.4
24.8
30.4
30.8
45.3
84.4
Switzerland
10.8
12.8
18.8
24.3
19.1
22.8
28.4
24.8
23.4
51.9
56.9
94.6
United Kingdom
29.6
28.5
30.5
30.7
44.8
42.7
57.4
55.8
139.9
125.6
108.9
175.6
Less developed countries
386.9
395.9
341.5
270.8
382.6
391.6
539.7
603.8
657.8
733.5
1,383.6
1,584.7
Southeast Asia
120.9
120.7
94.5
58.0
102.0
73.1
_ 138.4
173.4
210.4
219.8
441.7
371.6
Hong Kong
11.4
10.1
14.4
12.3
16.4
14.3
20.0
44.2
77.5
30.1
44.4
62.9
Indonesia
0
0
0
0
0
0`
0`
0
0
0
Malaysia
28.7
41.4
29.6
18.5
13.4
25.9
52.5
61.0
.
19.4
44.8
119.9
110.3
Philippines
30.9
13.1
22.4
6.1
28.6
9.1
3.7
4.8
15.6
38.3
109.1
47.4
Singapore
10.5
28.8
12.9
9.3
12.4
14.2
22.0
33.1
66.0*
38.7
59.4
57.9
Thailand
38.4
27.1
9.3
9.3
29.3
7.5
_ 24.6
27.4*
28.7*
61.4
102.0
70.7
31.7
17.1
25.1
31.2
33.9
38.1
39.9
82.2
82.8
107.3
16.8`
17.0
17.3
47.1
13.9*
56.9
47.4
31.0
 Middle East
50.3
45.2
66.0
45.5
45.6
31.6
40.7
64.0
66.9
160.0
205.2
163.5
Bahrain
9.3
4.0
2.0
.0'
.0'
.0'
.0*
.0*
.0*
18.3
15.3
.0
Iran
8.3
11.4
12.3
4.9*
6.2'
6.7'
9.2'
9.3'
9.7'
22.8
39.9
27.0
Iraq
4.2
5.8
6.3
5.7'
7.1*
7.8'
10.7*
10.7'
11.2*
50.0
20.0
31.3
Kuwait
5.7
4.6
25.0
2.6
10.1
.0'
.0*
.0'
.0'
9.8
39.9
12.7
Syria
13.9
11.6
9.7
19.5
10.1
1.1
2.5
25.7
26.9'
37.3
55.2
33.2
North Africa
17.0
24.3
17.7
20.8
26.1
29.7
40.5
41.7
41.0
56.2
73.7
117.1
Egypt
7.3
9.9
10.7
11.8
14.8
16.1
22.2
22.2'
23.2'
51.4
34.1
64.8
Libya
0.3
0.3
0.4
0.3'
0.4'
0.5'
0.6'
0.6'
0.7'
1.0
1.2
1.9
o-Ddharau Africa
JLL
4i.4
569
49.4
38.7
49.1
51.6
76.3
76.3
79.8
110.1
185.7
215.6
Nigeria
2.3
9.4
.0
2.2
2.8
3.0
4.1'
4.1
4.3'
1.0
11.7
12.1
Sudan
10.8
14.7
15.9
5.4
6.9
7.4
10.3
10.3'
10.8'
24.2
56.3
30.0
Tanzania
4.4
6.0'
6.5
5.9'
7.4'
8.0'
11.1'
11.1'
11.6'
13.7
20.9
32.4
Zambia
10.3
7.2
6.1
5.6'
7.0'
7.6'
10.5'
10.5'
11.0'
27.0
29.0
30.7
Latin America
141.2
127.3
82.3
90.6
134.7
174.3
209.9
210.2
219.8
105.3
394.5
609.6
Argentina
35.7
28.7
7.5
1.1
16.8
28.6
46.9
47.0'
49.1
2.7
87.1
93.4
Brazil
78.9
61.8
21.8
24.0
35.9
35.1
33.2
33.3'
34.8'
9.0
162.7
128.2
Peru
4.9
7.1
21.0'
19.3'
23.9'
26.1'
35.9'
35.9'
37.6'
41.9
42.7
105.2
Communist countries
201.8
289.3
368.5
277.4
305.4
340.7
540.9
452.7
428.1
1,077.8
1,066.8
1,464.5
USSR
21.2
23.2
79.3
42.2
31.0
51.0
118.0
69.6
25.2
238.4
161.8
242.2
Eastern Europe
126.3
191.8
209.1
175.9
199.7
208.7
311.0
271.1
285.7
608.4
649.1
895.4
Czechoslovakia
15.6
21.3
23.0
21.1'
26.1'
28.5'
39.2'
39.3'
41.0'
69.9
73.4
114.9
East Germany
24.4
33.4
36.0
33.0
41.6
45.1
62.3
62.4'
65.2'
104.0
115.0
182.0
Hungary
2.2
8.5
17.0
4.9
10.0
12.6
30.0
3.9
4.1'
39.6
32.0
57.5
Poland
13.7
14.4
10.6
17.8
22.4
24.3
33.6
31.9
27.8
63.2
60.7
98.0
Romania
50.8
69.4
74.8
56.8
71.5
77.6
107.2
107.3'
112.2*
248.8
239.2
313.0
Yugoslavia
2.4
21.4
22.5
6.5
4.4
5.7
18.1
5.7
13.8
11.4
48.0
34.7
Other 2
54.3
74.3
80.0
59.2
74.7
81.0
111.9
112.0
117.2
231.0
255.9
326.9
 D
ev
elo
p
ed countries
Less developed countries
98.67 98.34
100.00
100-.00100-00
96.75
93.57 89.93
75.15
77.48
74.85
74.95
32.58
22.12
94.73
93.96
75.57
100.00 100.00
92.23
91.22
91.42
92.57
24.54
15.61
100.00
100.00
91.95
Country listings for any given area are not exhaustive: only major
trade partners are presented. Asterisks designate country data that
are extrapolated and are subject to change. See tables 10 and I I.
' Kampuchea, Cuba, Mongolia, Laos, North Korea, and Vietnam.
Includes quarterly data that have been interpolated from annual
trade partner data.
 Non-Communist
countries
360.3
Developed countries
-127.6
-532.0
-500.8
-502.3
-765.7
-897.7
-1,325.4
-1,290.6 -1,274.6
-1,070.9
-1,226.7
-3,491.0
East Asia and Pacific
-59.9
-418.5
-249.3
-206.3
-408.2
-372.7
-526.3
-556.5 -503.0
-532.9
-822.4
-1,513.6
Australia-
-23.0
-147.0
-161.9
-115.6
-102.1
-75.2
-49.4
-80.7
-127.9
-1
64.1
-336.8
-342.3
Japan
-36.5
-86.0
-296.3
-286.6
-457.5
-457.3
-364.0
.
-358.5
-469.2
-1,126.4
North America
-67.9
-38.4
-109.6
-81.4
-131.3
-278.2
-409.3
-387.3
-274.4
- 43.2
-237.4
-900.2
Canada
-73.9
-679
-74.1
-62.7
-98.4
-117.3
-80.9
-93.3
-104.5
-110.1
-269.2
-359.3
United States
6.1
29.5
-35.5
-18.8
-32.9
-160.9
-328.4
-294.0
-169.9
66.8
31.8
-541.0
Western Europe
0.2
-75.1
-141.9
-214.5
-226.1
-246.7
-389.8
_
-346.8
-497.2
-494.8
-166
9
-1
077
2
Belgium
-0.2
-11.2
-5.9
-28.6
-36.2
-36.0
-65.4
-41.5
-31.4
5.6
.
- 12.9
,
.
-166.3
France
25.8
18.9
19.9
9.0
8.9
-5.2
- 15.6
-37.1
-12.0
-185.5
73.3
-2.9
West Germany
-59.2
-60.7
-91.8
-179.2 _
-147.4
-145.9
-203.9
-229.6
-286.9
-385.5
-250.3
-676.5
Italy
19.6
-1.4
9.1
-5.6
-7.1
-5.0
_ 3.4
-6.8
-18.7
8.0
52.7
-14.3
Netherlands
17.1
-0.5
0.8
7.4
6.3
3.2
-42.8
-32.3
-4.5
38.8
29.8
-25.9
Norway
-18.0
-18.0
-52.7
-21.7
_
-9.0
-13.8
-4.2
-9.5
-9.2
-11.2
-86.7
-48
7
Spain
4.2
2.3
2.7
1.8
-1.5
-1.3
-5.9
-6.9
-19.5
24.1
14.9
.
- 6.9
Sweden
5.9
-6.5
-2.6
2.2
-4.2
-11.3
-22.3
-9.1
-15.6
13.2
5.4
-35.6
Switzerland
-2.9
-4.6
-10.3
-13.5
-8.8
-11.8
-17.0
-13.8
-13.4
-20.4
-22.9
-51.1
United Kingdom
7.5
8.5
16.6
13.0
-3.1
2.7
-2.4
36.6
-78.8
10.0
50.5
10.1
Less developed
countries
487.9
551.3
734.4
694.3
662.6
826.5
900.9
667.8
761.7
2,617.1
2,407.9
3,084.2
Southeast Asia
464.0
524.1
627.8
599.1
621.7
768.2
842.7
671.8
736.6
2
067.7
2
075
9
2
831
6
Hong Kong _
386.1
423.1
_
496.6
451.1
510.5
566.0
658.9
552.8
_
615.8
,
1,563.2
,
.
1,691.0
,
.
2,186.5
Indonesia
42.1
41.7
44.0
22.9
24.5
27.1
32.4
18.3*
20.3*
125.5
146.2
106.9
Malaysia
0.4
-1.8
5.6
20.2
32.6
34.3
13.1
-11.8
24.4
83.2
_
13
9
100
2
Philippines
11.4
8.1
4.6
16.4
-3.2
19.6
32.0
18.2
11.6
15.6
.
-30
0
.
64
8
Singapore
47.9
40.7
53.7
66.3
54.0
76.6
71.0
52.4
15.6*
215.3
.
202.4
.
267.9
Thailand
-22.5
-11.0
0.1
0.7
-18.8
20.2
7.1
13.8*
17.1*
6.9
-38.1
9.2
South Asia
5.8
1.3
-0.9
9.2
1.4
7.8
19.3
8.9
12.4
-5.0
23.9
_
37.7
Pakistan
7.0
7.7
3.4
7.1*
6.0*
6.8*
6.1*
4.6*
6.2*
44.0
34
4
26
1
Sri Lanka
-3.3
-6.6
-6.0
0
-7.2
-9.1
2.3
-5.2*_-
-4.9*
-50.6
.
-17.8
.
-14.0
 Middle East
96.0
91.7
89.8
76.5
80.8
116.2
129.2
93.9
108.6
268.0
380.6
402.7
Bahrain
5.4
7.7
9.2
4.3*
4.6*
5.1*
6.1*
5.6*
6.3*
18.3
43.8
20.0
Iran
4.8
2.3
4.7
8.0*
7.6*
8.5*
9.0*
7.7*
9.2*
66.2
32.7
33.0
Iraq
8.1
5.8
8.1
7.7*
7.1*
7.9*
8.2*
6.9*
8.4*
1.0
28.1
31.0
Kuwait
30.6
24.4
8.2
20.4
11.7
21.4*
25.7*
24.0*
26.6*
61.5
83.8
79.3
Syria
-1.7
0.6
0.8
-11.6
-2.8
17.9
10.7
- 13.9*
- 13.7*
-6.2
-11.7
14.2
North Africa
14.5
7.0
25.3
15.0
10.5
11.0
7.7
3.8
8.2
76.1
71.5
44.1
Egypt
3.1
1.0
2.7
-0.6
-2.9
-2.8
-6.5
-7.5*
-6.9*
-12.1
11.1
-12.8
Libya
10.0
8.7
10.0
9.4*
9.9*
11.0*
13.1*
12.2*
13.6*
58.0
46.2
43.4
Sub-Saharan Africa
36.8
40.9
59.0
68.5
60.4
76.2
82.1
71.4
84.4
271.8
197.5
287.2
Nigeria
23.1
23.3
36.0
30.3
32.2
35.7
42.0
38.9*
43.5*
127.0
121.8
140.3
Sudan
-5.6
-9.3
-9.2
5.1
4.5
5.1
4.6
3.6*
4.7*
1.1
-29.4
19.3
Tanzania
-0.2
-1.6*
-1.0*
-0.8*
-2.0*
-2.l*
- 3.9*
-4.4*
-4.1*
24.2
-2.2
-8.8
Zambia
-7.8
-4.6
-4.3
-3.9*
-5.2*
-5.6*
-8.1*
-8.2*
-8.5*
-13.8
-20.5
-22.8
Latin America
-129.3
-113.6
-66.6
-73.9
-112.2
-152.8
-180.0
-182.0
-188.6
-61.6
-341.4
-519.0
Argentina
-35.6
-28.4
-7.3
-0.7
-16.4
-28.0
-46.2*
-46.3*
- 48.4*
-2.5
-86.3
-91.3
Brazil
-78.8
-61.8
-21.8
-24.0
-35.8
-35.0
-26.3
-26.8*
-27.6*
-8.7
-162.2
-121.2
Peru
-4.6*
-6.9*
-20.7*
-19.0*
-23.6*
-25.8*
- 35.5*
-35.6*
-37.2*
-41.1
-41.8
-104.0
Communist countries
89.6
1.5
93.6
57.9
-2.3
25.4
-96.7
-112.8
-63.9
151.5
287.0
-15.9
USSR
6.3
-3.9
13.1
25.6
0.7
13.3
-24.5
-26.6
10.7
-59.9
16.0
15.1
Eastern Europe
30.0
-33.1
21.3
22.3
-2.6
10.8
-58.2
-65.6
-58.9
-67.1
57.1
-27.6
Czechoslovakia
4.8
0.1
3.4
8.0*
5.1*
6.0*
1.9*
-.9*
1.6*
-13.7
15.7
21.1
East Germany
0.8
-7.0
-3.4
-3.5
-9.9
-10.0
-20.5
-23.4*
-21.9*
-8.0
-5.0
-44.0
Hungary
0
-2.6
2.1
5.4
4.7
10.0
-11.7
2.4
3.0*
-13.0
3.7
8.3
Poland
-1.7
-9.8
13.9
0.2
-3.8
-1.2
-2.0
-18.7
-10.0
-23.7
-6.3
-6.7
Romania
11.8
-3.8
6.2
7.8
-2.2
-0.8
-15.8
-22.0*
-17.4*
-46.9
34.0
-11.0
Yugoslavia
6.8
-12.4
-7.7
9.0
10.6
14.3
1.6
9.3
-1.8
3.8
-12.2
35.5
Other'
53.2
38.4
59.2
10.0
-0.5
1.2
-14.0
-20.6
-15.7
278.5
213.9
-3.3
' Country listings for any given area are not exhaustive: only major
trade partners are presented. Asterisks designate country data that
are extrapolated and are subject to change. See tables 2 and 3.
'Kampuchea, AOprbdi efoR? S r2Ofl4Ni2t/ 35 : CIA-RDP86B00985R000300050004-1
 China: Commodity Composition
of Exports, by Area'
Total
Developed
Less
Developed
Hong Kong'
and Macao
Communist
Total
Developed
Less
Developed
Hong Kong'
and Macao
Communist
Total
8,085
2,940
2,000
1,795
1,355
9,895
3,775
2,355
2,315
1,450
Fruits and vegetables
500
195
90
140
70
565
220
110
170
65
Teas and spices
1 R0
70
75
20
1 G
215
80
so
25
25
Tobacco
35
10
20
5
35
10
20
5
Crude materials _
2,065
1,285
180
250
350
2,545
1,585
230
335
400
Of which:
Hides and skins,
undressed
35
35
...
...
...
50
50
Crude minerals
85
50
10
15
15
95
60
15
20
Metalliferous ores
55
35
...
...
20
80
50
...
...
30
Crude animal materials
335
170
30
90
40
370
195
30
105
40
Chemicals
Of which:
Medicinal products
60
10
25
25
Essential oils and soap
60
25
20
10
 China: Commodity Composition
of Exports, by Area' (continued)
Manufactures
Of which:
Leather and dressed
skins
Paper
Textile yarn, fabrics,
and rugs
Nonmetallic mineral
products
Iron and steel
Nonferrous metals
Metal products
Nonelectric machinery
Handicrafts and
manufactures
Total
Developed
Less
Developed
Hong Kong'
and Macao
Communist
Total
Developed
Less
Developed
Hong Kong
and Macao
Communist
3,630
995
1,290
710
640
4,620
1,340
1,505
1,030
745
65
50
...
15
...
80
50
...
25
5
55
5
25
25
80
5
40
35
1,235
395
340
275
225
1,705
555
440
460
245
190
35
75
70
10
230
45
95
85
5
95
5
50
15
30
155
5
75
35
35
75
25
5
5
40
110
50
10
5
45
210
15
145
25
30
240
20
155
35
25
135
5
70
20
40
125
10
75
20
20
365
170
110
65
20
430
195
115
80
40
' Data are rounded to the nearest $5 million. Because of rounding,
components may not add to the totals shown. Ellipses indicate that
exports, if any, amounted to less than US $2.5 million. Estimates are
based on data reported by trading partners. Where data are
incomplete, as for the less developed and Communist countries,
estimates are based on fragmentary information from trade agree-
ments and press reports and on commodity breakdowns for earlier
years.
2 Including Hong Kong reexports of PRC-origin goods to third
countries.
 China: Commodity Composition
of Imports, by Area'
Grains
Fruits and vegetables
Sugar
Of which:
Oilseeds
Crude rubber, natural
Crude rubber, synthetic
Wood pulp
Textile fibers, natural
Textile fibers, synthetic
Crude fertilizers,
minerals
Metalliferous ores and
scrap
Crude animal and
vegetable materials
Animal fats and oil
Fixed vegetable oils
Chemicals
Of which:
Elements and
compounds
Dyeing materials
Fertilizers, manu-
factured '
Total
Developed
Less
Developed
Hong Kong'
and Macao
Communist
Total
Developed
Less
Developed
Hong Kong'
and Macao
Communist
655
575
80
935
935
...
...
...
10
10
300
55
190
55
290
45
130
115
15
100
...
...
15
15
195
...
180
...
15
170
...
170
...
...
10
10
...
...
...
15
15
55
45
...
...
10
40
40
...
420
55
305
55
665
155
510
160
140
...
...
,
15
175
170
...
...
5
35
10
25
...
...
45
10
25
...
10
110
20
35
...
55
150
85
15
...
50
35
...
5
15
15
15
35
35
...
...
...
50
50 _
115
45
70
...
...
65
30
30
...
...
835
655
80
5
95
1,125
890
70
10
155
270
265
...
...
...
340
340
...
5
40
40
...
...
...
60
60
320
195
60
...
65
410
300
...
...
110
 China: Commodity Composition
of Imports, by Area ' (continued)
Manufactures
Of which:
Nonmetallic mineral
products
Iron and steel
Nonferrous metals
Metal products,
industrial
Nonelectric machinery
Electric machinery
Transport equipment
Precision instruments
Total
Developed
Less
Developed
Hong Kong'
and Macao
Communist
Total
Developed
Less
Developed
Hong Kong'
and Macao
Communist
3,340
2,465
150
15
710
6,095
4,720
330
30
1,010
15
5
...
...
10
30
15
...
5
10
1,445
1,370
...
...
75
2,885
2,695
65
...
125
250
115
105
...
30
330
235
60
...
35
55
50
...
...
...
120
110
5
...
5
395
250
140
750
575
5
5
170
105
60
45
220
160
60
640
330
25
290
895
455
25
415
75
30
...
5
40
80
60
...
5
20
' Data are rounded to the nearest $5 million. Because of rounding,
components may not add to the totals shown. Ellipses indicate that
imports, if any, amounted to less than US $2.5 million. Estimates are
based on data reported by trading partners. Where data are
incomplete, as for the less developed and Communist countries,
estimates are based on fragmentary information from trade agree-
ments and press reports and on commodity breakdowns for earlier
years.
2 Including Hong Kong reexports of third country goods to China.
' Excluding phosphate rock, ammonium chloride, sodium nitrate,
and potassium nitrate.
 China: Commodity Composition of Exports
to Selected Countries, 1977 '
Japan United
States
Canada
Aus-
tralia
United West France
Kingdom Germany
Italy
Nether-
lands
Belgium- Hong
Luxembourg Kong'
Singapore
Indo-
nesia
Egypt Yugo-
slavia
USSR
1,486
203
77
124
159
250
169
142
82
35
1,735
262
146
45
33
178
Of which:
Live animals (00)
Meat (01)
Dairy products (02)
Fish (03)
Rice (042)
Fruits and vegetables (05)
102
9
13
5
8
34
3
1
6
2
136
40
3
25
Tea and spices (07)
11
12
1
4
12
5
7 .
..
2
1
21
14
1
3 .
..
5
Tobacco (12)
6 .
..
...
... .
.. .
..
1 .
..
1
...
5
4
2
7 .
..
...
Crude materials (2, 3, 4)
Of which:
Oilseeds (22)
Silk (261)
86
2
Crude minerals (27)
33
1
9
2
1
8
1
6
2 .
..
...
...
...
...
.
..
NA
Crude animal materials (29)
42
31
1
13
45
9
6
t0
I
89
12
2
17
Coal (32)
19
1
Crude oil (331)
624 .
4
Petroleum and products
9 ...
...
1
(332)
Chemicals (5)
Of which:
Essential oils (55)
Rosin and turpentine (5996)
 China: Commodity Composition of Exports
to Selected Countries, 1977' (continued)
SITC Nomenclature'
Japan United
States
Canada
Aus-
tralia
United West France
Kingdom Germany
Italy
Nether-
lands
Belgium- Hong
Luxembourg Kong'
Singapore
Indo-
nesia
Egypt Yugo-
slavia
USSR
Manufactures (6, 7, 8)
261
108
58
94
63
103
84
53
36
18
689
143
63
25
28
119'
Of which:
Silk fabrics (6531)
39
1
...
1
2
3
4
9
...
...
II
1
...
...
...
4
Rugs and carpets (657)
17
10
1
1
12
12
4
1
1
1
11
2
NA
Mineral products (66)
13
5
I
3
I
2
2
2
1
1
60
9
4
1
2
Iron and steel (67)
...
...
...
...
...
...
...
...
...
...
15
3
1
1
l
Tin (687)
1
4
...
...
4
1
2
...
3
...
I
...
...
...
12
NA
Machinery (7)
I
...
...
2
6
1
1
1
...
1
42
17
14
5
...
.. .
Clothing (84)
58
26
31
24
3
33
7
3
5
1
103
8
2
10
1
46
Footwear(85)
3
4
...
7
...
1
6
2
1
I
13
3
2
...
1
2
Works of art (896)
17
9
...
...
...
1
1
...
...
I
I
...
...
...
...
...
Basketwork (8992)
15
11
1
3
7
15
9
8
8
2
22
5
I
...
1
NA
Other commodities and
transactions (9)
9
2
2
...
...
1
...
...
1
...
4
' Data are derived from the official trade statistics of reporting
countries, adjusted to reflect Chinese exports, f.o.b. Because of
rounding, components may not add to totals shown. Ellipses indicate
that exports, if any, amounted to less than US $500,000. NA
indicates that commodity detail was not available at the time of
printing.
' Data are arranged according to the Standard International Trade
Classification (SITC), revision 1. SITC nomenclature has been
paraphrased and SITC index numbers are provided in parentheses as
a reference to more precise descriptions.
' Exports to Hong Kong include goods of Chinese origin reexported
from Hong Kong to other countries.
? Contains $62 million worth of goods not identified in USSR trade
data. Previous CIA trade handbooks included this residual value in
the SITC 9 category.
 China: Commodity Composition of Exports
to Selected Countries, 1978 '
SITC Nomenclature n Japan United
States
Foodstuffs (0, 1) 347 27
Of which:
Meat (01) 21 1
Dairy products (02) 10
Fish (03) 134 2
Rice (042) 17
Fruits and vegetables (05) 111 11
Coffee, tea, and spices (07) 10 9
Tobacco 02) 7
Of which:
Oil seeds (22) 41
Silk (261) 142 5
Crude minerals (27) 40 2
Tungsten (28392) 1 6
Crude animal materials 47 39
(29)
Coal (32) 35
Crude-oil (331) 722__
Petroleum and products 22 . .
(332)
Rosin and turpentine 21 1
(5996)
Canada Aus- United West France Italy Nether- Belgium- Hong Singapore Indo- Egypt Yugo- USSR
tralia Kingdom Germany lands Luxembourg Kong' nesia slavia
83 141 186 319 196 174 109 39 2,249 326 107 52 70 257
1 4 1
... ... 6 I ... 67 3 20
8 43 3 1 7 2 167 51 4
 China: Commodity Composition of Exports
to Selected Countries, 1978 '(continued)
SITC Nomenclature'
Japan
United
States
Canada
Aus-
tralia
United West France
Kingdom Germany
Italy
Nether-
lands
Belgium- Hong Singapore Indo-
Luxembourg Kong' nesia
Egypt Yugo-
slavia
USSR
Manufactures (6, 7, 8)
395
201
61
106
82
137
96
56
51
21
1,006
180
59
27
60
181
Of which:
Cotton fabrics (652)
64
38
10
22
12
6
15
2
12
155
31
1
1
NA
Silk fabrics (6531)
48
...
...
1
2
6
4
6
...
...
33
5
...
...
1
2
Rugs and carpets (657)
24
3
1
I
24
15
6
2
1
2
14
2
1
NA
Mineral products (66)
21
5
1
2
3
2
2
2
1
1
83
12
4
1
2
Iron and steel (67)
...
...
...
...
...
...
...
...
...
...
36
5
1
2
1
...
Machinery (7)
1
2
8
1
1
1
...
48
20
14
9
..
..
Clothing (84)
83
63
26
23
4
41
8
4
6
2
132
10
1
5
2
53
Footwear(85)
3
3
...
6
...
1
6
3
3
1
17
4
2
...
6
...
Works of art (896)
8
12
...
...
...
I
I
...
...
1
1
1
...
...
...
NA
Basketwork (8992)
18
15
2
11
21
10
12
9
3
24
2
1
3
NA
' Data are derived from the official trade statistics of reporting
countries, adjusted to reflect Chinese exports, f.o.b. Because of
rounding, components may not add to totals shown. Ellipses indicate
that exports, if any, amounted to less than US $500,000.
NA indicates that commodity detail was not available at the time of
printing.
' Data are arranged according to the Standard International Trade
Classification (SITC), revision 1. SITC nomenclature has been
paraphrased and SITC index numbers are provided in parentheses as
a reference to more precise descriptions.
' Exports to Hong Kong include goods of Chinese origin reexported
from Hong Kong to other countries.
? Contains $87 million worth of goods not identified in USSR trade
data. Previous CIA trade handbooks included this residual value in
the SITC 9 category.
 China: Commodity Composition of Imports
From Selected Countries, 1977 '
SITC Nomenclature 2 Japan United
States
Canada Aus- United West France Italy Nether- Belgium- Hong Singapore Egypt Yugo- USSR
tralia Kingdom Germany lands Luxembourg Kong' slavia
Foodstuffs (0, 1)
291
338
Of which:
Wheat (04)
291
284
Sugar(05)
...
53
Of which:
Natural rubber (2311)
Synthetic rubber (2312)
10
...
_ Woodpulp(25)
1
16
Cotton (263) _
18
Synthetic fibers (266)
69
19
4
Chemicals (5)
347
20
4
Of which:
Ammonium chloride (51412)
15
_
Fertilizer, mfg 4 (56)
134
8
2
6
5
6
20
4
Plastic materials (58)
48
2
1
10
1
13
11
5
Manufactures (6, 7, 8)
Of which:
Paper and Paperboard (64)
30
3
3 .
..
...
...
...
Synthetic fabrics (65)
129
1
3
3
4
5
...
...
Iron and steel pipe (678) _
189
...
... .
..
4
157
1
4
2
.. .
Iron and steel, nes' (67)
1,028
53
7
218
7
8
4
16
Copper(682)
7
6
Aluminum (684)
31
5
10
Nonferrous nes (68)
39
5
16
Power generating
machine (711)
9
6
...
 China: Commodity Composition of Imports
From Selected Countries, 1977 '(continued)
SITC Nomenclature'
Japan
United
States
Canada
Aus-
tralia
United West France
Kingdom Germany
Italy
Nether-
lands
Belgium- Hong
Luxembourg Kong'
Singapore
Egypt Yugo- USSR
slavia
Construction and mining
equipment (7184)
5
1
.-.
...
...
6
5
1
Nonelectric machinery,
nes (71)
75
18
Electric machinery, nes (72)
21
4
...
...
8
14
4
2
2
...
Trucks (7323-4)
46
29
...
...
...
...
I
...
...
...
...
...
... ...
Aircraft (734)
...
...
...
...
48
...
13
...
...
...
_.
...
Ships(735)
52
...
...
...
...
38
...
...
2
...
...
13
... 35
(861-863)
Watches and clocks (864)
3
' Data are derived from the official trade statistics of reporting
countries and reflect Chinese imports, f.o.b. Because of rounding,
components may not add to the totals shown. Ellipses indicate that
imports, if any, amounted to less than US $500,000. Indonesia
reports no exports to China.
2 Data are arranged according to the Standard International Trade
Classification (SITC), revision 1. SITC nomenclature has been
paraphrased and SITC index numbers are provided in parentheses as
a reference to more precise descriptions. Residual categories for
"Iron and steel" and "Nonelectric machinery" are derived by
deducting specified items from divisions 67 and 71. respectively, of
the SITC.
' Including reexports of third-country goods through Hong Kong to
China.
Excluding phosphate, rock, ammonium chloride, sodium nitrate,
and potasium nitrate.
Contains $44 million worth of goods not identified in USSR trade
data. Previous CIA trade handbooks included this residual value in
the SITC 9 category.
6 Not elswhere specified.
 China: Commodity Composition of Imports
From Selected Countries, 1978 '
SITC Nomenclature
Japan
United
States
Canada
Australia
United
Kingdom
West France Italy
Germany
Nether-
lands
Belgium- Yugoslavia
Luxembourg
Egypt Hong
Kong
Singapore
USSR
Total (0-9)
3,074
865
442
483
176
995
199
188
136
205
35
65
63
58
242
Foodstuffs (0,1)
Of which:
Woodpulp (25)
1
4
15
Cotton (263)
157
Synthetic fibers (266)
65
46
2
Ammonium chloride
(51412)
18
Plastic materials (58)
64
2
...
...
2
17
1
18
12
5
...
...
3
2
.. .
Manufactures (6, 7, 8)
2,552
132
106
130
134
813
162
110
76
146
26
...
32
3
216'
Paper and paperboard
(64)
36
Yarn and fabrics (65)
132
3
Iron and steel pipe (678)
270
1
5
272
6
7
5
2
10
Iron and steel, nes " (67)
1,580
1
42
501
88
55
50
131
16
Copper (682)
6
4
7
NA
...
19
...
-
Aluminum (684)
19
...
79
4
...
15
14
9
Nonferrous, nes (68)
28
2
85
4
3
35
14
9
Power generating
machine (711)
27
...
...
27
3
2
1
 China: Commodity Composition of Imports
From Selected Countries, 1978 '(continued)
SITC Nomenclature
Japan
United
States
Canada
Australia
United
Kingdom
West France Italy
Germany
Nether-
lands
Belgium- Yugoslavia
Luxembourg
Egypt Hong
Kong
Singapore
USSR
Machine tools(7151)
15
7
1
...
2
20
6
1
...
2
...
... .
..
...
...
Construction and mining
equipment (7184)
42
33
1
...
1
17
6
4
...
...
...
...
2
...
Nonelectric machinery,
ties (71)
262
8
2
...
34
120
22
16
2
4
6
-
...
3
2
14
Electric machinery, ties
(72)
78
6
1
...
14
30
15
2
2
3
...
...
I
...
...
Trucks (7323-4)
176
10
...
...
...
31
...
10
...
...
...
60
Aircraft (734)
...
...
3
NA
29
...
I
...
...
...
...
...
..
...
36
Ships(735)
53
1
...
NA
...
47
5
...
15
2
...
...
...
...
...
Precision instruments
(861-863)
21
12
...
...
3
11
3
1
2
...
...
...
3
...
...
Watches and clocks (864)
4
...
...
...
...
...
2
1
...
...
...
...
1
...
...
Other(9)
18
...
...
...
...
6
2
...
...
6
...
...
...
4
...
' Data are derived from the official trade statistics of reporting
countries and reflect Chinese imports Lo.b. Because of rounding,
components may not add to the totals shown. Ellipses indicate that
imports, if any, amounted to less than US $500,000. Indonesia
reports no exports to China. NA indicates that commodity detail was
not available at the time of printing.
2 Data are arranged according to the Standard International Trade
Classification (SITC), revision 1. SITC nomenclature has been
paraphrased and SITC index numbers are provided in parentheses as
a reference to more precise descriptions. Residual categories for
"Iron and steel" and "Nonelectric machinery" are derived by
deducting specified items from divisions 67 and 71, respectively, of
the SITC.
' Including reexports of third country goods through Hong Kong to
China.
` Excluding phosphate rock, ammonium chloride, sodium nitrate and
potassium nitrate.
' Contains $65 million worth of goods not identified in USSR trade
data. Previous CIA trade handbooks included this residual value in
the SITC 9 category.
I Not elsewhere specified.
 China: Hard Currency
Current Account Balance
CIA Reported CIA Reported
Estimate Estimate
Exports, f.o.b.
6.7
6.55
8.4
7.69
Imports, c.i.f.
6.0
6.46
9.7
10.03
Trade balance
0.7
0.10
-1.3
-2.34
Transportation, net
0.4
0.6
Downpayments
-0.1
-0.6
Interest
-0.1
-0.1
Other,' net
0.5
0.7 _
Net invisibles '
0.7
0.91
0.6
1.23
Current account
balance
1.4
1.00
-0.7
-1.11
The Chinese use the phrase "expenditures for imports."
' Includes overseas remittances, foreign aid, and tourism.
The Chinese use the phrase "nontrade income."
 Fully Disbursed
Value
US $ Equivalent'
(Millions)
Terms
Major Commercial Credit
Country of Lead Bank
United Kingdom
$475 million
475
LIBOR' plus 0.5 percent
April 1979
5-year repayment
France
$500 million
500
LIBOR plus 0.5 percent
6 May 1979
Repayment after 3 years
Japan
$2,000 million
2,000
LIBOR plus 0.5 percent
18 May 1979
Repayment after 4'h years
N
Japan
$6,000 million
6,000
LIBOR plus 0.25 percent
18 May 1979
Six-month revolving credit.
Officially Supported Credit
Lending Country
Japan Y 420 billion 1,800 6.25 percent
Up to 15 years repayment
Three British bank loans and one British-
led consortium loan. Not project related.
Union des Banques Arabes et Francoise
(USAF) is the lead bank. Three tranches
to be placed within 6 months. Not project
related.
Syndicated Eurodollar loan tied to pur-
chase of whole plants negotiated under
Long-Term Trade Agreement Syndication
of 22 Japanese banks, led by Bank of
Tokyo. Loan effective 1 June 1979 through
end of 1985.
Tied to purchase of whole plants negotiated
under LTTA but may be used to refinance
earlier drawings. Syndication of 31 Japa-
nese banks. Applications may be made
through 30 June 1985.
Covers purchases under Long-Term Trade
Agreement, excluding defense equipment
and shipbuilding. Provides 85 percent
cover. Interest rate subsidy by ECGD.
Australian Government Export Finance
and Insurance Corporation credit for motel
construction.
Japan Ex-fm Bank will lend directly to
Bank of China for the development of
China's oil and coal resources. Japan
claims this is an untied credit and thus not
in contravention of the terms of ICEC.
Technical problems delayed opening of
credit until December 1979.
 Fully Disbursed
Value
US $ Equivalent'
(Millions)
Major Commercial Credit
Country of Lead Bank
France
FF 30 billion
7,300
Italy
$ 1 billion
1,000
Canada
C$2 billion
1,720
Belgium
BF 5 billion
167
Development Assistance Credit
Lending Country
Japan
# 50 billion
(first year)
210
Belgium
BE 900 million
30
Total
240
' Mid-December 1979 exchange rates.
2 In addition to these major commercial credits, smaller medium-
term credits totaling around $500 million have been arranged on
similar terms. West German banks have contributed the largest
share. Only one US bank has participated with two small loans.
' London Interbank Offer Rates-a floating Eurodollar rate.
I1 percent in midsummer 1979 but over 14 percent by December.
Terms Date Signed Remarks
7.25 to 7.5 percent
Repayment after 5 plus 9 May 1979 Tied to purchases under Long-Term Trade
years Agreement. 18 French banks participate
but credit is refinanced by official BCFF
and insured by COFACE.
7.75 percent 16 May 1979 Consortium of Italian banks led by
Repayment after 81/2 years. Became operative Institute Mobiliate Italiano. Tied to Italian
31 October 1979 sales. Mediocredito Centrale will provide
interest rate subsidy plus government
guarantee.
7.25 to 7.5 percent 18 May 1979 Interest rate subsidized by Canadian Ex-
Repayment after 5 years Became operative port Development Corporation (EDC).
21 August 1979 Credit will be available only on a contract
by contract basis.
7.25 to 7.5 percent December 1979 May be used for Belgium/ French 600-
Repayment after 5 to 8 years MW power plant project.
3 to 3.25 percent. Ten-year December 1979 Initial loan to be drawn in fiscal 1980 for
grace period followed by 30- six Japanese aid projects. Additional
year repayment period amounts will be forthcoming as the projects
progress.
No interest. Agreement reached in BF 300 million-$10 million-per year 1980-
Ten-year grace period fol- November 1979 82. May cover downpayment require-
lowed by 30-year repayment Formal document yet to be ments for Belgium/ French power plant
period signed. sale.
 Notice to recipients of NFAC paper:
ER CIT 80-001, China: International Trade Quarterly
Review, Second Quarter, 1979, January 1980.
Page 28, table 12, at the top of the page, change stub
heading from "Major Commercial Credit Country of Lead
Bank" to "Officially Supported Credit Lending Country
(continued)."
 Approved For Release 2001/12/05: CIA-RDP86B00985R000300050004-1
China: Destination of Reexports
Through Hong Kong
Indonesia
86
92
United States
61
78
Singapore
59 _
71
Taiwan
31
46
Switzerland
15
30
Nigeria
12
25
Australia
15
22
West Germany
13
20
United Arab Emirates
6
14
Saudi Arabia
4
13
China: Selected Commodity
Reexports Through Hong Kong
Made-up articles of textile 75 98
materials
Miscellaneous manufactured 30 37
articles
Woven textile fabrics other 6
than those of cotton or man-
made fibers
Fruits and nuts 18 18
Vegetables, roots, and tubers 12 16
Knitted or crocheted 7 16
undergarments
Explosives and pyrotechnic 13 15
products
 1970
504.1
482.1
472.1
697.3
2,155.9
1971
560.3
548.4
576.1
848.7
2,533.5
1972 _
728.3
757.7
787.9
946.6
3,220.5
1973
935.5
1,181.5
1,392.1
1.590.4
5,099.3
1974 _
1,497.0
1,725.9
1,618.4
1,891.1
6,732.3
1975
1,554.8
1,702.3
1,742.0
2,123.0
7,121.8
1976
1,777.6
1,594.9
1,740.0
2,164.7
7,277.3
1977
1,902.4
1,849.2
1,936.0
2,396.9
8,084.7
1978
2,129.2
2,260.4
2,505.2
3,000.0
9,894.7
1979
2,774.4
3,089.9
1970 _
494.2
590.6
496.4
463.0
2,044.2
1971
455.6
525.0
572.1
590.5
2,143.1
1972
564.0
598.5
555.5
866.7
2,584.2
1973
888.9
1,051.5
1,236.5
1,449.2
4,626.0
1974
1,547.0
1,705.3
1,878.0
1,676.5
6,806.7
1975
1,668.4
1,643.2
1,775.5
1,744.5
6,829.6
1976
1,850.7
1,630.8
1,164.4
933.8
5,579.7
1977
1,232.0
1,399.3
1,915.3
2,069.7
6,616.5
1978
1,879.3
2,365.8
1551.0
3,521.1
10,317.3
1979
3,510.0
3,666.7
Imports c.i.f
1970 _
536.0
638.4
536.9
500.4
2,211.8
1971
491.6
567.6
616.8
637.0
2,312.9
1972
610.1
648.9
601.4
939.3
2,799.2
1973
965.1
1,142.2
1,343.7
1,572.5
5,023.4
1974
1,683.5
1,848.5
2,035.9
1,807.3
7,375.1
1975
1,802.1
1,782.8
1,921.0
1,895.4
7,399.2
1976
2,000.4
1,774.1
1,258.9
1,002.1
6,035.5
1977
1,323.2
1,510.4
2,067.7
2,239.3
7,140.6
1978
2,043.8
2,563.2
2,765.8
3,814.2
11,187.0
1979
3,805.8
3,983.5