In a joint statement, the Ministry of Commerce and the Chinese Academy of International Trade and Economic Co-operation reported that China's foreign trade rose 36.7% year-on-year in the first three quarters of the year, reaching US$828.5bn. Exports rose 53.3%, to US$416.2bn, while imports increased by 38.2%, to US$412.3bn, leaving a trade surplus of US$3.9bn. The report noted that government efforts to cool over-heated economic sectors led to a decline in imports in the second half. Exports of machinery and electronic products increased 44% and 54.3% — increases in the latter category driven by notebook, mobile phone, and LCD display exports which all surged more than 100%. On the import side, raw materials led advances; iron ore and crude oil jumped 36.6% and 34.4%.