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China’s Foreign Trade up 4.7% in Jan-May Period


A report from on June 7th, 2023:

China’s total imports and exports grew 4.7 percent year-on-year to 16.77 trillion yuan in the first five months, data from the General Administration of Customs showed on Wednesday.

Exports grew 8.1 percent to 9.62 trillion yuan in the first five months compared with the same period last year while imports rose 0.5 percent to 7.15 trillion yuan, the administration added.

In dollar terms, total foreign trade came in at $2.44 trillion during the period, down 2.8 percent year-on-year, according to the administration.

In May alone, foreign trade expanded 0.5 percent to 3.45 trillion yuan. Export witnessed a 0.8 year-on-year decrease to 1.95 trillion yuan while import climbed 2.3 percent to 1.5 trillion yuan, according to the administration.

In the first five months of this year, the Association of Southeast Asian Nations remained China’s largest trading partner. The total imports and exports expanded 9.9 percent year-on-year to 2.59 trillion yuan, accounting for 15.4 percent of China’s total foreign trade volume, the administration said.

Total import and export to the countries along the Belt and Road Initiative amounted to 5.78 trillion yuan in the first five months, up 13.2 percent year-on-year, and that to other member countries of Regional Comprehensive Economic Partnership totaled 5.11 trillion yuan, registering a year-on-year increase of 4.5 percent.

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