According to customs statistics, in the first 11 months of 2024, the total import and export value of China's trade in goods (the same below) was 39.79 trillion yuan, an increase of 4.9% compared with the same below. Of this total, the export was 23.04 trillion yuan, up by 6.7%; Imports reached 16.75 trillion yuan, an increase of 2.4%. In dollar terms, China's import and export value in the first 11 months was 5.6 trillion US dollars, up 3.6 percent. Among them, the export was US $3.24 trillion, up by 5.4%; Imports reached US $2.36 trillion, up by 1.2%.

The main characteristics of China's import and export in the first 11 months of 2024:

1. Import and export of general trade and processing trade increased

In the first 11 months, China's general trade imports and exports were 25.5 trillion yuan, an increase of 3.7%, accounting for 64.1% of China's total foreign trade. Of this total, the export was 15.04 trillion yuan, up by 7.9%; Imports were 10.46 trillion yuan, down 1.8%. During the same period, the import and export of processing trade reached 7.22 trillion yuan, up 3.6%, accounting for 18.1%. Of this total, the export was 4.58 trillion yuan, up by 1.8 percent; Imports reached 2.64 trillion yuan, up 6.9%.

In addition, China's import and export by bonded logistics was 5.64 trillion yuan, an increase of 13%. Among them, the export was 2.2 trillion yuan, up by 10.9%; Imports reached 3.44 trillion yuan, an increase of 14.4%.

2. Increased import and export to ASEAN, EU, USA and South Korea

In the first 11 months of this year, ASEAN was China's largest trading partner. The total value of China's trade with ASEAN reached 6.29 trillion yuan, an increase of 8.6%, accounting for 15.8% of China's total foreign trade. Among them, the export to ASEAN was 3.74 trillion yuan, up by 12.7%; Imports from ASEAN reached 2.55 trillion yuan, up by 3%. The EU is China's second largest trading partner. The total value of China's trade with the EU was 5.09 trillion yuan, up 1.3%, accounting for 12.8%. Among them, the export to the European Union was 3.34 trillion yuan, up by 3.8%; Imports from the EU were 1.75 trillion yuan, down 3.3%. The United States is China's third largest trading partner, and the total value of China's trade with the United States reached 4.44 trillion yuan, an increase of 4.2%, accounting for 11.2%. Among them, the export to the United States was 3.38 trillion yuan, up by 5.1 percent; Imports from the United States reached 1.06 trillion yuan, up 1.4%. South Korea is China's fourth largest trading partner, with a total trade value of 2.11 trillion yuan, up 6.3%, accounting for 5.3%. Among them, the export to South Korea was 942.77 billion yuan, down 1.1%; Imports from the ROK reached 1.17 trillion yuan, up by 13%.

In the same period, China's total imports and exports to countries jointly building the Belt and Road reached 18.74 trillion yuan, an increase of 6%. Of this total, the export was 10.52 trillion yuan, up by 8.2%; Imports reached 8.22 trillion yuan, up 3.4%.

3. Imports and exports of private and foreign-funded enterprises increased

In the first 11 months, the import and export of private enterprises reached 21.99 trillion yuan, an increase of 8.7%, accounting for 55.3% of China's total foreign trade value, 2 percentage points higher than that of the same period last year. Among them, China's exports reached 14.86 trillion yuan, an increase of 9.2%, accounting for 64.5% of China's total exports. Imports reached 7.13 trillion yuan, an increase of 7.9%, accounting for 42.6% of China's total imports. In the same period, the import and export of foreign-invested enterprises reached 11.67 trillion yuan, an increase of 1.1%, accounting for 29.3% of China's total foreign trade. Of this total, the export was 6.36 trillion yuan, up by 2.1%; Imports were 5.31 trillion yuan, down 0.1%. Imports and exports of state-owned enterprises were 6.04 trillion yuan, down 0.7%, accounting for 15.2% of China's total foreign trade. Of this total, the export was 1.79 trillion yuan, up by 3.9%; Imports were 4.25 trillion yuan, down 2.5%.

Mechanical and electrical products accounted for nearly 60% of exports, of which automatic data processing equipment and its parts, integrated circuits and automobiles exports grew by double digits

In the first 11 months, China exported 13.7 trillion yuan of mechanical and electrical products, an increase of 8.4%, accounting for 59.5% of the total value of China's exports. Among them, automatic data processing equipment and its components were 1.33 trillion yuan, an increase of 11.4%; Integrated circuit 1.03 trillion yuan, an increase of 20.3%; Mobile phone 874.45 billion yuan, down 0.9%; Automobiles reached 762.97 billion yuan, up by 16.9%. In the same period, the export of labor products was 3.84 trillion yuan, an increase of 3.2%, accounting for 16.7%. Among them, clothing and clothing accessories were 1.03 trillion yuan, up 0.9%; 915.96 billion yuan for textiles, up 6%; Plastic products reached 681.09 billion yuan, up 6.9%. The export of agricultural products reached 657.34 billion yuan, up by 4.6%.

5. Imports of iron ore, coal and natural gas increased

In the first 11 months, China imported 1.124 billion tons of iron ore, an increase of 4.3%, and the average import price (the same below) was 768 yuan per ton, down 3.9%; 506 million tons of crude oil, down 1.9%, 4,208.8 yuan per ton, up 0.3%; 490 million tons of coal, up 14.8%, 688.4 yuan per ton, down 12.5%; 120 million tons of natural gas, up 12%, 3,506.2 yuan per ton, down 5.8%; Soybean 97.09 million tons, an increase of 9.4%, 3,591.7 yuan per ton, down 15.1%; Refined oil was 44.94 million tons, up 4.5 percent, to 4,322.9 yuan per ton, up 4.5 percent. In addition, 26.333 million tons of primary shaped plastics were imported, a decrease of 2.4%, 10,800 yuan per ton, down 0.1%; Unforged rolled copper and copper material 5.127 million tons, up 1.7%, 67,700 yuan per ton, up 11.1%.

During the same period, the import of mechanical and electrical products reached 6.35 trillion yuan, an increase of 7.5%. Among them, there were 501.47 billion integrated circuits, an increase of 14.8%, with a value of 2.48 trillion yuan, an increase of 11.9%; The number of automobiles was 637,000, down 11.3%, with a value of 256.43 billion yuan, down 14.9%.