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China's imports and exports grew 28.2 percent from jan to May

In the first five months of this year, China's imports and exports grew 28.2 percent year on year


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According to customs statistics, in the first five months of this year, China's total import and export value reached 14.76 trillion yuan, up 28.2 percent year-on-year and 21.6 percent over the same period in 2019. Of this, exports reached 8.04 trillion yuan, up 30.1 percent year-on-year and 23.6 percent over the same period in 2019; Imports reached 6.72 trillion yuan, up 25.9% year on year and 19.2% over the same period in 2019; The trade surplus was 1.32 trillion yuan, up 56.2 percent year on year.


In dollar terms, the total value of China's imports and exports in the first five months of this year was US $2.27 trillion, up 38.1 percent year-on-year and 26.8 percent over the same period in 2019. Of this, exports amounted to US $1.24 trillion, up 40.2 percent year-on-year and 29 percent over the same period in 2019. Imports reached US $1.03 trillion, up 35.6 percent year-on-year and 24.3 percent over the same period in 2019; The trade surplus was US $203.45 billion, an increase of 70.2% year on year.


In May, China's total import and export value reached 3.14 trillion yuan, up 26.9 percent year-on-year, down 0.4 percent month-on-month and up 20.8 percent over the same period in 2019. Of this, the export was 1.72 trillion yuan, up 18.1 percent year-on-year, up 0.2 percent month-on-month and up 19.5 percent over the same period in 2019. Imports reached 1.42 trillion yuan, up 39.5 percent year-on-year, down 1.1 percent month-on-month and up 22.3 percent over the same period in 2019; The trade surplus was 296 billion yuan, down 32.1% year on year.

In dollar terms, China's total import and export value in May was US $482.31 billion, up 37.4 percent year-on-year, down 0.6 percent month-on-month and up 24.7 percent compared with the same period in 2019. Among them, the export was US $263.92 billion, up 27.9% year on year, basically flat month-on-month and up 23.4% compared with the same period in 2019. Imports reached US $218.39 billion, up 51.1% year on year, down 1.2% month-on-month and up 26.4% over the same period in 2019; The trade surplus was US $45.53 billion, down 26.5% year on year.


The proportion of imports and exports in general trade increased. In the first five months, China's general trade imports and exports reached 9.12 trillion yuan, up 32% year on year (the same below), accounting for 61.8% of China's total foreign trade value and 1.8 percentage points higher than the same period last year. Exports accounted for 4.9 trillion yuan, up 34.5 percent; Imports were 4.22 trillion yuan, up 29.2%. In the same period, import and export of processing trade reached 3.23 trillion yuan, up 16.7 percent, accounting for 21.9 percent, down 2.2 percentage points. Exports accounted for 2.02 trillion yuan, up 16.4%; Imports were 1.21 trillion yuan, up 17.1%. In addition, China's imports and exports through bonded logistics totaled 1.79 trillion yuan, up 29.9 percent. Among them, the export was 625.26 billion yuan, up by 37.6 percent; Imports were 1.16 trillion yuan, up 26.1%.


China's imports and exports to major trading partners such as ASEAN, the European Union and the United States increased. In the first five months of this year, ASEAN became China's largest trading partner. The total value of China's trade with ASEAN reached 2.19 trillion yuan, up 29.2 percent and accounting for 14.8 percent of China's total foreign trade. Of this, China's exports to ASEAN reached 1.21 trillion yuan, up 29.3 percent; Imports from ASEAN reached 980.4 billion yuan, up 29 percent; The trade surplus with ASEAN was 224.93 billion yuan, an increase of 30.6%. The EU is China's second largest trading partner, with a total trade value of 2.06 trillion yuan, up 28.7% and accounting for 14%. Exports to the European Union accounted for 1.23 trillion yuan, up by 27.9%; Imports from the EU reached 827.44 billion yuan, up 30%; The trade surplus with the EU was 406.75 billion yuan, an increase of 23.8%. The United States is China's third largest trading partner. The total value of China-US trade was 1.82 trillion yuan, up 41.3%, accounting for 12.3%. Exports to the United States accounted for 1.34 trillion yuan, up 38.9 percent; Imports from the United States were 478.3 billion yuan, up 48.5 percent; The trade surplus with the US was 860.51 billion yuan, an increase of 34.1%. Japan is China's fourth largest trading partner. The total value of China-Japan trade was 969.79 billion yuan, up 14.9% and accounting for 6.6%. Among them, the export to Japan was 431.36 billion yuan, up by 8.9%; 538.43 billion yuan from Japan, up 20.1%; The trade deficit with Japan was 107.07 billion yuan, an increase of 105.1 percent. During the same period, China's imports and exports to countries along the "One Belt And One Road" routes totaled 4.36 trillion yuan, up 27.4 percent. Exports accounted for 2.46 trillion yuan, up 29.6 percent; Imports were 1.9 trillion yuan, up 24.7%.


The proportion of private enterprises in imports and exports increased. In the first five months, private imports and exports reached 7.02 trillion yuan, up 38.1%, accounting for 47.6% of China's total foreign trade, up 3.4 percentage points over the same period last year. Among them, the export amounted to 4.53 trillion yuan, up 39.4 percent, accounting for 56.3 percent of the total export value. Imports reached 2.49 trillion yuan, up 35.8 percent, accounting for 37.1 percent of the total value of imports. During the same period, the import and export of foreign-invested enterprises reached 5.44 trillion yuan, an increase of 20%, accounting for 36.9% of China's total foreign trade. Exports accounted for 2.83 trillion yuan, up 21.5 percent; Imports reached 2.61 trillion yuan, up 18.4 percent. In addition, imports and exports of state-owned enterprises reached 2.23 trillion yuan, up 20.7 percent and accounting for 15.1 percent of China's total foreign trade. Among them, the export was 651.91 billion yuan, up 11.9%; Imports reached 1.57 trillion yuan, an increase of 24.8%.


Exports of mechanical and electrical products and labor-intensive products both grew. In the first five months, China's export of mechanical and electrical products reached 4.78 trillion yuan, up 31.9 percent, accounting for 59.5 percent of the total export value. Of this, 612.2 billion yuan was spent on automatic data processing equipment and its parts and components, up 20.4 percent; 354.87 billion yuan for mobile phones, up 28.8%; 75.67 billion yuan for automobiles (including chassis), up 95.8 percent. During the same period, the export of labor-intensive products reached 1.42 trillion yuan, up 22.4%, accounting for 17.6%. Of this, 368.01 billion yuan was made up of clothing and accessories, up 37.6 percent; Textiles, including face masks, were 364.48 billion yuan, down 10.3 percent; 240.12 billion yuan for plastic products, up 38.5 percent. In addition, steel exports amounted to 30.924 million tons, up 23.7 percent; Finished oil products 3.015 million tons, up 0.5%.


Imports of iron ore, crude oil and soybeans rose, while imports of natural gas rose and prices fell. In the first five months, China imported 472 million tons of iron ore, an increase of 6%. The average import price was 1032.8 yuan per ton, an increase of 62.7%. Crude oil reached 221 million tons, up 2.3%, and the average import price was 2,809.2 yuan per ton, up 9.1%. Coal was 111 million tons, down 25.2%, and the average import price was 493.1 yuan per ton, down 2.3%. Natural gas reached 49.782 million tons, up 24.5 percent, while the average import price was 2,234.1 yuan per ton, down 15.5 percent. The average import price of soybeans was 3290.7 yuan per ton, up 18.7 percent. Primary shape plastics 14.748 million tons, up 0.3 percent; the average import price was 11,000 yuan per ton, up 21.6 percent; Refined oil products reached 10.38 million tons, down 22%; the average import price was 3,721.9 yuan per ton, up 22.1%; Steel products reached 6.097 million tons, an increase of 11.6%; the average import price was 7,731.8 yuan per ton, an increase of 9.8%; Unwrought copper and copper materials were 2.366 million tons, an increase of 8.4%, while the average import price was 57,400 yuan per ton, up 35.1%. In the same period, imports of mechanical and electrical products reached 2.87 trillion yuan, up 21.8 percent. Among them, integrated circuits were 260.35 billion yuan, up 30 percent, worth 1.04 trillion yuan, up 18.2 percent; The number of automobiles (including chassis) reached 429,000, up 54.2 percent, valued at 149.7 billion yuan, up 61.2 percent.


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