Exceeding expectations! China's foreign trade import and export situation is stable and improving, with positive growth for 15 consecutive months

According to data from the General Administration of Customs on the 7th, in August this year, China's total import and export value was 3.43 trillion yuan, a year-on-year increase of 23.7%. This is also the 15th consecutive month since June 2020 that China's monthly foreign trade imports and exports have achieved year-on-year positive growth.

Specifically, in the first eight months of this year, China's total import and export value reached 24.78 trillion yuan, a year-on-year increase of 23.7%, and an increase of 22.8% over the same period in 2019. Among them, exports were 13.56 trillion yuan, a year-on-year increase of 23.2%, and an increase of 23.8% over the same period in 2019; imports were 11.22 trillion yuan, a year-on-year increase of 24.4%, and an increase of 21.8% over the same period in 2019; the trade surplus was 2.34 trillion yuan, an increase of 17.8% year-on-year.

In August alone , China's total import and export value reached 3.43 trillion yuan, up 18.9% year-on-year, 5% month-on-month, and 26.1% over the same period in 2019. Among them, exports were 1.9 trillion yuan, up 15.7%; imports were 1.53 trillion yuan, up 23.1%.

In terms of trading partners , ASEAN continues to be China's largest trading partner. In the first eight months, the total trade value between China and ASEAN was 3.59 trillion yuan, an increase of 22.8%, accounting for 14.5% of China's total foreign trade. During the same period, the total trade value between China and the EU was 3.42 trillion yuan, an increase of 22.1%, accounting for 13.8% of China's total foreign trade; the total trade value between China and the United States was 3.05 trillion yuan, an increase of 25.8%, accounting for 12.3% of China's total foreign trade; the total trade value between China and Japan was 1.57 trillion yuan, an increase of 12.3%, accounting for 6.3% of China's total foreign trade.

It is worth mentioning that China’s total imports and exports with countries along the “Belt and Road” reached 7.29 trillion yuan, an increase of 24.6%.

The data also showed that private enterprises had the fastest growth in imports and exports and their share increased. In the first eight months, private enterprises' imports and exports totaled 11.92 trillion yuan, up 29.9%, accounting for 48.1% of China's total foreign trade, up 2.3 percentage points from the same period last year.

Experts said that the foreign trade data in August performed impressively, far exceeding previous market expectations . The high prosperity of exports continued, and the strong growth of imports contained positive signals of domestic demand. It is expected that subsequent exports will remain resilient and help the economy to continue to recover and grow. China's effective control of the epidemic has increased the confidence of global investors in China, and foreign direct investment has remained active. It is expected that China's export share will remain at a high level.

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