China's import and export trade data for the first 7 months of 2024:
Total import and export value:
According to customs statistics, in the first seven months of 2024, China's total import and export value of goods trade was 24.83 trillion yuan, a year-on-year increase of 6.2%.
Among them, exports amounted to 14.26 trillion yuan, an increase of 6.7%; Imports amounted to 10.57 trillion yuan, an increase of 5.4%; The trade surplus was 3.69 trillion yuan, an increase of 10.6%.
Measured in US dollars, China's total import and export value for the first seven months was 3.5 trillion US dollars, an increase of 3.5%.
Among them, exports amounted to 2.01 trillion US dollars, an increase of 4%; Imports reached 1.49 trillion US dollars, an increase of 2.8%; The trade surplus was 518 billion US dollars, expanding by 7.9%.
Main characteristics of import and export:
Trade mode: General trade imports and exports amounted to 16.08 trillion yuan, an increase of 4.9%, accounting for 64.7% of the total foreign trade value. The import and export of processing trade reached 4.33 trillion yuan, an increase of 3.2%, accounting for 17.4%.
The import and export of bonded logistics amounted to 3.5 trillion yuan, an increase of 16.9%.
Trading partner: ASEAN is China's largest trading partner, with a total trade value of 3.92 trillion yuan, an increase of 10.5%.
The EU is the second largest trading partner, with a total trade value of 3.22 trillion yuan, an increase of 0.4%.
The United States is the third largest trading partner, with a total trade value of 2.72 trillion yuan, an increase of 4.1%.
South Korea is the fourth largest trading partner, with a total trade value of 1.32 trillion yuan, an increase of 8%.
Over the same period, China's imports and exports to countries jointly building the "the Belt and Road" totaled 11.72 trillion yuan, an increase of 7.1%.
Enterprise nature: The import and export of private enterprises reached 13.67 trillion yuan, an increase of 10.9%, accounting for 55.1% of the total foreign trade value. Foreign invested enterprises imported and exported 7.28 trillion yuan, an increase of 1%, accounting for 29.3% of the total foreign trade value.
The import and export of state-owned enterprises reached 3.82 trillion yuan, an increase of 0.7%, accounting for 15.4% of the total foreign trade value.
Export products: Mechanical and electrical products accounted for nearly 60% of exports, with exports reaching 8.41 trillion yuan, an increase of 8.3%.
Among them, the export growth of automatic data processing equipment and its components, integrated circuits, and automobiles.
During the same period, the export of labor-intensive products reached 2.43 trillion yuan, an increase of 5.1%, accounting for 17%. The export of agricultural products reached 403.12 billion yuan, an increase of 4.6%.
Imported products: The import volume of major commodities such as iron ore, coal, and natural gas has increased.
During the same period, imported mechanical and electrical products amounted to 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%; There were 402000 cars, a decrease of 2.5%, with a value of 163.19 billion yuan, a decrease of 7.4%.
The growth trend of China's export trade is formed by a combination of multiple factors. Despite facing some challenges and uncertainties, the fundamentals of the Chinese economy, policy support, market diversification, and industrial development
The positive factors such as upgrading and innovation provide strong guarantees for the sustained growth of export trade.
In the future, China needs to continue to address various challenges and promote high-quality development of export trade through continuous optimization of trade structure, improvement of product quality and innovation capabilities, and strengthening international cooperation.
At the same time, it is also necessary to closely monitor changes in the global economic situation and trade environment, adjust strategies in a timely manner, in order to maintain stable growth in export trade.
