In the first seven months, China's import and export of trade in goods increased by 6.2%
According to customs statistics, in the first seven months of 2024, the total import and export value of China's trade in goods (the same below) was 24.83 trillion yuan, an increase of 6.2% year-on-year (the same below). Of this total, the export was 14.26 trillion yuan, up by 6.7%; Imports reached 10.57 trillion yuan, an increase of 5.4%; Trade surplus was 3.69 trillion yuan, an increase of 10.6%. In dollar terms, in the first seven months, China's import and export value was 3.5 trillion US dollars, an increase of 3.5%. Among them, the export was 2.01 trillion US dollars, up by 4%; Imports were US $1.49 trillion, up 2.8%; The trade surplus increased by 7.9% to US $518 billion.
1. Import and export of general trade and processing trade increased
In the first seven months, China's general trade imports and exports were 16.08 trillion yuan, an increase of 4.9%, accounting for 64.7% of China's total foreign trade. Of this total, exports reached 9.4 trillion yuan, up by 8%; Imports reached 6.68 trillion yuan, an increase of 0.9%. During the same period, the import and export of processing trade reached 4.33 trillion yuan, up 3.2 percent, accounting for 17.4 percent. Among them, the export was 2.73 trillion yuan, down 0.2%; Imports reached 1.6 trillion yuan, up 9.7%.
In addition, the import and export of bonded logistics was 3.5 trillion yuan, an increase of 16.9%. Of this total, the export was 1.34 trillion yuan, up by 13.2%; Imports reached 2.16 trillion yuan, up 19.3 percent.
Second, the growth of imports and exports to ASEAN, the EU, the United States and South Korea
In the first seven months, ASEAN was China's largest trading partner. The total value of China's trade with ASEAN reached 3.92 trillion yuan, an increase of 10.5%, accounting for 15.8% of China's total foreign trade. Among them, the export to ASEAN was 2.36 trillion yuan, up by 13.7%; China imported 1.56 trillion yuan from ASEAN, up by 5.9%; The trade surplus with ASEAN was 793.55 billion yuan, up by 33.2%. The EU is my second largest trading partner, and the total value of our trade with the EU was 3.22 trillion yuan, up 0.4%, accounting for 13%. Among them, the export to the EU was 2.1 trillion yuan, up by 1.5%; Imports from the EU were 1.12 trillion yuan, down 1.5%; The trade surplus with the EU reached 985.08 billion yuan, an increase of 5.1%. The United States is my third largest trading partner, and the total value of China's trade with the United States was 2.72 trillion yuan, an increase of 4.1%, accounting for 11%. Among them, the export to the United States was 2.04 trillion yuan, up by 5.1%; Imports from the United States reached 683.91 billion yuan, up 1.2%; Its trade surplus with the United States increased by 7.2% to 1.35 trillion yuan. South Korea is my fourth largest trading partner. The total value of our trade with South Korea was 1.32 trillion yuan, an increase of 8%, accounting for 5.3%. Among them, the export to South Korea was 600.47 billion yuan, down 0.6%; China imported 720.11 billion yuan from South Korea, up by 16.4%; The trade deficit with the ROK reached 119.64 billion yuan, a seven-fold increase.
In the same period, China's total imports and exports to countries jointly building the Belt and Road Initiative totaled 11.72 trillion yuan, an increase of 7.1%. Of this total, the export was 6.56 trillion yuan, up by 7.7%; Imports reached 5.16 trillion yuan, up 6.3%.
Third, the import and export of private enterprises increased by double digits
In the first seven months, the import and export of private enterprises reached 13.67 trillion yuan, an increase of 10.9%, accounting for 55.1% of China's total foreign trade, an increase of 2.3 percentage points over the same period last year. Among them, exports reached 9.22 trillion yuan, an increase of 10%, accounting for 64.7% of China's total exports; Imports reached 4.45 trillion yuan, up 12.8%, accounting for 42.1% of China's total imports. In the same period, the import and export of foreign-invested enterprises reached 7.28 trillion yuan, an increase of 1%, accounting for 29.3% of China's total foreign trade. Among them, the export was 3.92 trillion yuan, up by 1%; Imports reached 3.36 trillion yuan, up 1.1%. The import and export of state-owned enterprises reached 3.82 trillion yuan, an increase of 0.7%, accounting for 15.4% of China's total foreign trade. Of this total, exports amounted to 1.1 trillion yuan, up by 1.8%; Imports reached 2.72 trillion yuan, up 0.3%.
Mechanical and electrical products accounted for nearly 60% of exports, of which automatic data processing equipment and its parts, integrated circuits and automobiles exports increased
In the first seven months, China exported 8.41 trillion yuan of mechanical and electrical products, an increase of 8.3%, accounting for 59% of the total value of China's exports. Among them, automatic data processing equipment and its parts and components were 815.88 billion yuan, up by 11.6%; Integrated circuits 640.91 billion yuan, up 25.8%; Automobile 462.86 billion yuan, up 20.7 percent; Mobile phones were 454.74 billion yuan, down 1.3 percent. During the same period, the export of labor products was 2.43 trillion yuan, an increase of 5.1%, accounting for 17%. Among them, clothing and clothing accessories 632.29 billion yuan, up 1.6%; 574.53 billion yuan for textiles, up 6%; Plastic products reached 437.21 billion yuan, an increase of 10%. The export of agricultural products reached 403.12 billion yuan, up by 4.6%.
5. Imports of major commodities such as iron ore, coal and natural gas increased
In the first seven months, China imported 714 million tons of iron ore, an increase of 6.7%, and the average import price (the same below) was 826.1 yuan per ton, up 5.4%; 318 million tons of crude oil, down 2.4%, 4,322.3 yuan per ton, up 8.1%; 296 million tons of coal, up 13.3%, 713.9 yuan per ton, down 14.9%; Natural gas 75.442,000 tons, up 12.9%, 3,477.7 yuan per ton, down 9%; 58.333 million tons of soybeans, down 1.3%, 3,658.2 yuan per ton, down 15.4%; Refined oil products reached 28.32 million tons, up 4.6 percent, to 4,387.3 yuan per ton, up 10.3 percent. In addition, 16.77 million tons of primary shaped plastics were imported, an increase of 1.6%, 10,800 yuan per ton, down 1.1%; Unwrought copper and copper material 3.201 million tons, an increase of 5.4%, 66,800 yuan per ton, up 9.9%.
In the same period, the import of mechanical and electrical products reached 3.88 trillion yuan, an increase of 10.7%. Among them, there were 308.18 billion integrated circuits, an increase of 14.5%, with a value of 1.51 trillion yuan, an increase of 14.4%; Cars were 402,000 units, down 2.5%, with a value of 163.19 billion yuan, down 7.4%.
1. Import and export of general trade and processing trade increased
In the first seven months, China's general trade imports and exports were 16.08 trillion yuan, an increase of 4.9%, accounting for 64.7% of China's total foreign trade. Of this total, exports reached 9.4 trillion yuan, up by 8%; Imports reached 6.68 trillion yuan, an increase of 0.9%. During the same period, the import and export of processing trade reached 4.33 trillion yuan, up 3.2 percent, accounting for 17.4 percent. Among them, the export was 2.73 trillion yuan, down 0.2%; Imports reached 1.6 trillion yuan, up 9.7%.
In addition, the import and export of bonded logistics was 3.5 trillion yuan, an increase of 16.9%. Of this total, the export was 1.34 trillion yuan, up by 13.2%; Imports reached 2.16 trillion yuan, up 19.3 percent.
Second, the growth of imports and exports to ASEAN, the EU, the United States and South Korea
In the first seven months, ASEAN was China's largest trading partner. The total value of China's trade with ASEAN reached 3.92 trillion yuan, an increase of 10.5%, accounting for 15.8% of China's total foreign trade. Among them, the export to ASEAN was 2.36 trillion yuan, up by 13.7%; China imported 1.56 trillion yuan from ASEAN, up by 5.9%; The trade surplus with ASEAN was 793.55 billion yuan, up by 33.2%. The EU is my second largest trading partner, and the total value of our trade with the EU was 3.22 trillion yuan, up 0.4%, accounting for 13%. Among them, the export to the EU was 2.1 trillion yuan, up by 1.5%; Imports from the EU were 1.12 trillion yuan, down 1.5%; The trade surplus with the EU reached 985.08 billion yuan, an increase of 5.1%. The United States is my third largest trading partner, and the total value of China's trade with the United States was 2.72 trillion yuan, an increase of 4.1%, accounting for 11%. Among them, the export to the United States was 2.04 trillion yuan, up by 5.1%; Imports from the United States reached 683.91 billion yuan, up 1.2%; Its trade surplus with the United States increased by 7.2% to 1.35 trillion yuan. South Korea is my fourth largest trading partner. The total value of our trade with South Korea was 1.32 trillion yuan, an increase of 8%, accounting for 5.3%. Among them, the export to South Korea was 600.47 billion yuan, down 0.6%; China imported 720.11 billion yuan from South Korea, up by 16.4%; The trade deficit with the ROK reached 119.64 billion yuan, a seven-fold increase.
In the same period, China's total imports and exports to countries jointly building the Belt and Road Initiative totaled 11.72 trillion yuan, an increase of 7.1%. Of this total, the export was 6.56 trillion yuan, up by 7.7%; Imports reached 5.16 trillion yuan, up 6.3%.
Third, the import and export of private enterprises increased by double digits
In the first seven months, the import and export of private enterprises reached 13.67 trillion yuan, an increase of 10.9%, accounting for 55.1% of China's total foreign trade, an increase of 2.3 percentage points over the same period last year. Among them, exports reached 9.22 trillion yuan, an increase of 10%, accounting for 64.7% of China's total exports; Imports reached 4.45 trillion yuan, up 12.8%, accounting for 42.1% of China's total imports. In the same period, the import and export of foreign-invested enterprises reached 7.28 trillion yuan, an increase of 1%, accounting for 29.3% of China's total foreign trade. Among them, the export was 3.92 trillion yuan, up by 1%; Imports reached 3.36 trillion yuan, up 1.1%. The import and export of state-owned enterprises reached 3.82 trillion yuan, an increase of 0.7%, accounting for 15.4% of China's total foreign trade. Of this total, exports amounted to 1.1 trillion yuan, up by 1.8%; Imports reached 2.72 trillion yuan, up 0.3%.
Mechanical and electrical products accounted for nearly 60% of exports, of which automatic data processing equipment and its parts, integrated circuits and automobiles exports increased
In the first seven months, China exported 8.41 trillion yuan of mechanical and electrical products, an increase of 8.3%, accounting for 59% of the total value of China's exports. Among them, automatic data processing equipment and its parts and components were 815.88 billion yuan, up by 11.6%; Integrated circuits 640.91 billion yuan, up 25.8%; Automobile 462.86 billion yuan, up 20.7 percent; Mobile phones were 454.74 billion yuan, down 1.3 percent. During the same period, the export of labor products was 2.43 trillion yuan, an increase of 5.1%, accounting for 17%. Among them, clothing and clothing accessories 632.29 billion yuan, up 1.6%; 574.53 billion yuan for textiles, up 6%; Plastic products reached 437.21 billion yuan, an increase of 10%. The export of agricultural products reached 403.12 billion yuan, up by 4.6%.
5. Imports of major commodities such as iron ore, coal and natural gas increased
In the first seven months, China imported 714 million tons of iron ore, an increase of 6.7%, and the average import price (the same below) was 826.1 yuan per ton, up 5.4%; 318 million tons of crude oil, down 2.4%, 4,322.3 yuan per ton, up 8.1%; 296 million tons of coal, up 13.3%, 713.9 yuan per ton, down 14.9%; Natural gas 75.442,000 tons, up 12.9%, 3,477.7 yuan per ton, down 9%; 58.333 million tons of soybeans, down 1.3%, 3,658.2 yuan per ton, down 15.4%; Refined oil products reached 28.32 million tons, up 4.6 percent, to 4,387.3 yuan per ton, up 10.3 percent. In addition, 16.77 million tons of primary shaped plastics were imported, an increase of 1.6%, 10,800 yuan per ton, down 1.1%; Unwrought copper and copper material 3.201 million tons, an increase of 5.4%, 66,800 yuan per ton, up 9.9%.
In the same period, the import of mechanical and electrical products reached 3.88 trillion yuan, an increase of 10.7%. Among them, there were 308.18 billion integrated circuits, an increase of 14.5%, with a value of 1.51 trillion yuan, an increase of 14.4%; Cars were 402,000 units, down 2.5%, with a value of 163.19 billion yuan, down 7.4%.
