China's import and export data for the first 11 months is out
According to customs statistics, in the first 11 months of 2024, China's trade in goods (the same below) import and export value of 39.79 trillion yuan, year-on-year (the same below) growth of 4.9%. Among them, exports were 23.04 trillion yuan, up 6.7%; imports were 16.75 trillion yuan, up 2.4%. In dollar terms, the first 11 months, China's total import and export value of 5.6 trillion U.S. dollars, an increase of 3.6%. Among them, exports of 3.24 trillion U.S. dollars, an increase of 5.4%; imports of 2.36 trillion U.S. dollars, an increase of 1.2%.
General trade, processing trade and other import and export growth
The first 11 months, China's general trade import and export 25.5 trillion yuan, an increase of 3.7%, accounting for 64.1% of the total value of my foreign trade. Among them, exports 15.04 trillion yuan, an increase of 7.9%; imports 10.46 trillion yuan, down 1.8%. During the same period, the processing trade import and export 7.22 trillion yuan, an increase of 3.6%, accounting for 18.1%. Among them, exports 4.58 trillion yuan, an increase of 1.8%; imports 2.64 trillion yuan, an increase of 6.9%.
In addition, China's import and export in the form of bonded logistics 5.64 trillion yuan, an increase of 13%. Among them, exports 2.2 trillion yuan, an increase of 10.9%; imports 3.44 trillion yuan, an increase of 14.4%.
Import and export growth to ASEAN, the EU, the United States, South Korea
In the first 11 months, ASEAN for my first major trading partner, I trade with ASEAN total value of 6.29 trillion yuan, an increase of 8.6%, accounting for 15.8% of the total value of my foreign trade. Among them, exports to ASEAN 3.74 trillion yuan, up 12.7%; imports from ASEAN 2.55 trillion yuan, up 3%. The European Union for my second largest trading partner, my total trade with the EU value of 5.09 trillion yuan, an increase of 1.3%, accounting for 12.8%. Among them, exports to the EU 3.34 trillion yuan, an increase of 3.8%; imports from the EU 1.75 trillion yuan, down 3.3%. The United States is my third largest trading partner, my trade with the United States totaled 4.44 trillion yuan, an increase of 4.2%, accounting for 11.2%. Among them, exports to the United States 3.38 trillion yuan, an increase of 5.1%; imports from the United States 1.06 trillion yuan, an increase of 1.4%. South Korea for my fourth largest trading partner, my trade with South Korea totaled 2.11 trillion yuan, up 6.3%, accounting for 5.3%. Among them, exports to South Korea 942.77 billion yuan, down 1.1%; imports from South Korea 1.17 trillion yuan, up 13%.
During the same period, China to build a “Belt and Road” countries total import and export 18.74 trillion yuan, an increase of 6%. Among them, exports 10.52 trillion yuan, an increase of 8.2%; imports 8.22 trillion yuan, an increase of 3.4%.
Private enterprises, foreign-funded enterprises import and export growth
The first 11 months, private enterprises import and export 21.99 trillion yuan, an increase of 8.7%, accounting for 55.3% of the total value of my foreign trade, compared with the same period last year, an increase of 2 percentage points. Among them, exports 14.86 trillion yuan, an increase of 9.2%, accounting for 64.5% of the total value of my exports; imports 7.13 trillion yuan, an increase of 7.9%, accounting for 42.6% of the total value of my imports. During the same period, foreign-invested enterprises import and export 11.67 trillion yuan, an increase of 1.1%, accounting for 29.3% of my total foreign trade. Among them, exports 6.36 trillion yuan, up 2.1%; imports 5.31 trillion yuan, down 0.1%. State-owned enterprises import and export 6.04 trillion yuan, down 0.7%, accounting for 15.2% of my total foreign trade. Among them, exports 1.79 trillion yuan, up 3.9%; imports 4.25 trillion yuan, down 2.5%.
Electromechanical products accounted for nearly 60% of exports, including automatic data processing equipment and its components, integrated circuits and automotive exports double-digit growth
The first 11 months, China's exports of electromechanical products 13.7 trillion yuan, an increase of 8.4%, accounting for 59.5% of my total exports. Among them, automatic data processing equipment and its parts and components 1.33 trillion yuan, an increase of 11.4%; integrated circuits 1.03 trillion yuan, an increase of 20.3%; cell phones 8744.5 billion yuan, down 0.9%; automotive 762.97 billion yuan, an increase of 16.9%. During the same period, the export of labor-intensive products 3.84 trillion yuan, an increase of 3.2%, accounting for 16.7%. Among them, clothing and clothing accessories 1.03 trillion yuan, an increase of 0.9%; textiles 915.96 billion yuan, an increase of 6%; plastic products 681.09 billion yuan, an increase of 6.9%. Exports of agricultural products 657.34 billion yuan, up 4.6%.
Iron ore, coal and natural gas imports increased
The first 11 months, China's imports of iron ore 1.124 billion tons, an increase of 4.3%, the average price of imports (the same below) per ton of 768 yuan, down 3.9%; 506 million tons of crude oil, a decrease of 1.9%, per ton of 4208.8 yuan, up 0.3%; 490 million tons of coal, an increase of 14.8%, per ton of 688.4 yuan, a decrease of 12.5%; 120 million tons of natural gas, an increase of 12%, and 3,506.2 yuan per ton, down 5.8%; 97.09 million tons of soybeans, an increase of 9.4%, 3,591.7 yuan per ton, down 15.1%; 44.94 million tons of refined oil, an increase of 4.5%, 4,322.9 yuan per ton, up 4.5%. In addition, the import of primary shapes of plastics 26.333 million tons, a decrease of 2.4%, 10,800 yuan per ton, down 0.1%; unwrought copper and copper 5.127 million tons, an increase of 1.7%, 67,700 yuan per ton, up 11.1%.
During the same period, imports of electromechanical products 6.35 trillion yuan, an increase of 7.5%. Among them, 501.47 billion integrated circuits, an increase of 14.8%, valued at 2.48 trillion yuan, an increase of 11.9%; 637,000 cars, a decrease of 11.3%, valued at 256.43 billion yuan, a decline of 14.9%.