Zhejiang Province has maintained its position as China’s “economic engine” buy ranking first in terms of trade surplus for the third year running.

According to provincial foreign trade authorities, last year Zhejiang chalked up US$85.2 billion in foreign trade, 38.8 percent more than the previous year.

This included US$58.2 billion in exports and US$27 billion in imports, up 39.8 and 36.6 percent respectively. The province’s trade surplus came to US$30 billion.

Zhejiang led the nation in trade surplus for the first time in 2002, when its export value outdid its import value by US$17.9 billion.

In the first 11 months in 2004, Zhejiang exported US$19.52 billion worth of machines and electronics, 37.3 percent of total exports and up 2.9 percentage points on the previous year.

This beat textiles, the province’s traditional export, which accounted for 34 percent of exports, US$17.81 billion worth, for the 11-month period.

Zhejiang's products are exported to 221 countries and regions, the trade authorities said.

(Xinhua News Agency January 17, 2005)