China’s foreign trade exceeds $1.5 trillion in first three quarters

Analysis

During the first three quarters of this year, China registered an import/export value of $1.6 trillion, rising 23.5% year on year; and at a growth rate 0.5 percentage point lower than in the previous eight months, according to the General Administration of Customs.

Exports remained at $878 billion, up 27.1% and 0.6 percentage point slower than the previous eight months. Imports stood at $693 billion, up 19.1% and 0.5 percentage point slower than the previous eight months. The trade surplus added up to $186 billion in the first nine months, growing at a rate 2.1 percentage points slower than in the previous eight months.

Customs statistics displayed a slowing trend in the import/export growth of general trade and processing trade. During the first three quarters, China’s import/export of general trade stood at $704 billion, up 28.7%. During the same period, the import/export of processing trade was $706 billion, up 18.5%. Statistics showed that China’s import/export value with its top six trading partners - the EU, the US, Japan, ASEAN, Hong Kong and the ROK - all exceeded $100 billion. (peopledaily.com)

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