Customs release: imports and exports up 5.2 per cent in first 10 months
According to customs statistics, 2024 the first 10 months, China's trade in goods (the same below) import and export value of 36.02 trillion yuan, year-on-year (the same below) growth of 5.2 per cent. Among them, exports 20.8 trillion yuan, an increase of 6.7 per cent; imports 15.22 trillion yuan, an increase of 3.2 per cent; trade surplus of 5.58 trillion yuan, an expansion of 17.6 per cent. In dollar terms, the first 10 months, China's total import and export value of 5.07 trillion U.S. dollars, an increase of 3.7 per cent. Among them, exports of 2.93 trillion U.S. dollars, an increase of 5.1 per cent; imports of 2.14 trillion U.S. dollars, an increase of 1.7 per cent; trade surplus of 785.27 billion U.S. dollars, an expansion of 15.8 per cent.
The main features of China's import and export in the first 10 months of 2024:
First, general trade, processing trade and other import and export growth
In the first 10 months, China's general trade import and export 23.09 trillion yuan, an increase of 3.9 per cent, accounting for 64.1 per cent of the total value of my foreign trade. Among them, exports 13.58 trillion yuan, an increase of 7.8%; imports 9.51 trillion yuan, down 1.2%. During the same period, the processing trade import and export 6.53 trillion yuan, an increase of 4 per cent, accounting for 18.1 per cent. Among them, exports 4.13 trillion yuan, an increase of 1.6 per cent; imports 2.4 trillion yuan, an increase of 8.3 per cent.
In addition, China's import and export in the form of bonded logistics 5.09 trillion yuan, an increase of 14 per cent. Among them, exports 1.96 trillion yuan, an increase of 11.5%; imports 3.13 trillion yuan, an increase of 15.7%.
Second, to ASEAN, the European Union, the United States and South Korea import and export growth
In the first 10 months, ASEAN for my first major trading partner, I and ASEAN trade value of 5.67 trillion yuan, an increase of 8.8 per cent, accounting for 15.7 per cent of the total value of my foreign trade. Among them, exports to ASEAN 3.36 trillion yuan, an increase of 12.5 per cent; imports from ASEAN 2.31 trillion yuan, an increase of 3.8 per cent; trade surplus of 1.05 trillion yuan with ASEAN, expanding by 38.2 per cent. The European Union for my second largest trading partner, my total trade with the EU value of 4.64 trillion yuan, an increase of 1.2 per cent, accounting for 12.9 per cent. Among them, exports to the EU 3.04 trillion yuan, an increase of 3.5 per cent; imports from the EU 1.6 trillion yuan, a decline of 2.9 per cent; trade surplus of 1.44 trillion yuan with the EU, an expansion of 11.6 per cent. The United States for my third largest trading partner, I trade with the United States for the total value of 4.01 trillion yuan, an increase of 4.4 per cent, accounting for 11.1 per cent. Among them, exports to the United States 3.04 trillion yuan, an increase of 4.9 per cent; from the United States imported 969.48 billion yuan, an increase of 2.9 per cent; trade surplus of 2.07 trillion yuan with the United States, an expansion of 5.8 per cent. South Korea for my fourth largest trading partner, I and South Korea's total trade value of 1.91 trillion yuan, an increase of 6.7%, accounting for 5.3%. Among them, exports to South Korea 855.67 billion yuan, down 0.8%; imports from South Korea 1.05 trillion yuan, an increase of 13.8%; trade deficit with South Korea 198.74 billion yuan, expanding 2.1 times.
During the same period, China's ‘Belt and Road’ countries to build a total of 16.94 trillion yuan of import and export, an increase of 6.2%. Among them, exports 9.48 trillion yuan, an increase of 8%; imports 7.46 trillion yuan, an increase of 3.9%.
Third, private enterprises, foreign-funded enterprises import and export growth
The first 10 months, private enterprises import and export 19.85 trillion yuan, an increase of 9.3%, accounting for 55.1% of the total value of my foreign trade, compared with the same period last year, an increase of 2.1 percentage points. Among them, exports 13.37 trillion yuan, an increase of 9.3 per cent, accounting for 64.3 per cent of the total value of my exports; imports 6.48 trillion yuan, an increase of 9.3 per cent, accounting for 42.6 per cent of the total value of my imports. During the same period, foreign-invested enterprises import and export 10.61 trillion yuan, an increase of 1.3 per cent, accounting for 29.5 per cent of my total foreign trade. Among them, exports 5.77 trillion yuan, an increase of 1.9 per cent; imports 4.84 trillion yuan, an increase of 0.5 per cent. State-owned enterprises import and export 5.48 trillion yuan, down 0.5 per cent, accounting for 15.2 per cent of my total foreign trade. Among them, exports 1.63 trillion yuan, an increase of 4.2 per cent; imports 3.85 trillion yuan, down 2.3 per cent.
Fourth, electromechanical products accounted for nearly 6% of exports, including automatic data processing equipment and its components, integrated circuits and automotive exports double-digit growth
The first 10 months, China's exports of electromechanical products 12.36 trillion yuan, an increase of 8.5%, accounting for 59.4% of my total exports. Among them, automatic data processing equipment and its components 1.2 trillion yuan, an increase of 10.9 per cent; integrated circuits 931.17 billion yuan, an increase of 21.4 per cent.