In January, China's foreign trade import and export increased by 8.7%

According to customs statistics, in January this year, China's total import and export value of goods trade amounted to RMB 2.73 trillion, marking an increase of 8.7% compared to the same period last year (hereinafter referred to as the same). Specifically, exports reached RMB 1.5 trillion, representing a growth of 13.9%, while imports stood at RMB 1.23 trillion, up by 2.9%. The trade surplus amounted to RMB 271.16 billion, expanding by 1.2 times.  

In January, China's total import and export value, calculated in US dollars, amounted to 395.98 billion US dollars, marking a 4% increase. Specifically, exports reached 217.57 billion US dollars, representing a 9.1% growth, while imports stood at 178.41 billion US dollars, a decrease of 1.5%. The trade surplus stood at 39.16 billion US dollars, expanding by 1.1 times.

General trade has seen rapid growth and its proportion has increased

In January, China's general trade import and export amounted to RMB 1.66 trillion, marking a 13% increase. This accounted for 60.9% of China's total foreign trade value, representing a 2.3 percentage point increase compared to the same period last year. Specifically, exports amounted to RMB 896.3 billion, representing a 20.9% increase, while imports reached RMB 766 billion, up 5%. The trade surplus stood at RMB 130.3 billion, expanding tenfold. During the same period, the import and export of processing trade amounted to RMB 680.7 billion, marking a 0.9% decrease. This accounted for 24.9% of China's total foreign trade value, representing a 2.4 percentage point decline. Specifically, exports were RMB 435.86 billion, up 3%, while imports were RMB 244.84 billion, down 7%. The trade surplus was RMB 191.02 billion, expanding by 19.5%. Furthermore, China's import and export through bonded logistics amounted to RMB 279.73 billion, representing a 9.3% increase. This accounted for 10.2% of China's total foreign trade value. Specifically, exports were RMB 90.69 billion, up 13.9%, while imports were RMB 189.04 billion, up 7.2%.

Imports and exports to major markets such as the European Union, ASEAN, and Japan have increased, and the import and export growth rate of countries along the Belt and Road is higher than the overall rate

In January, the total trade value between China and Europe reached 444.84 billion yuan, an increase of 17.6%, accounting for 16.3% of China's total foreign trade value. Specifically, China's exports to the EU amounted to 266.5 billion yuan, up 20.5%; imports from the EU stood at 178.34 billion yuan, up 13.5%; and the trade surplus with the EU expanded by 37.7% to 88.16 billion yuan. The total trade value between China and ASEAN was 356.6 billion yuan, up 7.8%, accounting for 13.1% of China's total foreign trade value. Specifically, China's exports to ASEAN reached 203.46 billion yuan, up 17.6%; imports from ASEAN were 153.14 billion yuan, down 3%; and the trade surplus with ASEAN increased by 2.3 times to 50.32 billion yuan. The total trade value between China and the United States was 315.82 billion yuan, down 10.1%, accounting for 11.6% of China's total foreign trade value. Specifically, China's exports to the United States amounted to 252.11 billion yuan, up 1.9%; imports from the United States were 63.71 billion yuan, down 38.6%; and the trade surplus with the United States expanded by 31.2% to 188.4 billion yuan. The total trade value between China and Japan was 185.34 billion yuan, up 6.5%, accounting for 6.8% of China's total foreign trade value. Specifically, China's exports to Japan reached 90.64 billion yuan, up 10.3%; imports from Japan were 94.7 billion yuan, up 3%; and the trade deficit with Japan narrowed by 58.4% to 4.06 billion yuan. During the same period, China's total imports and exports with countries along the "Belt and Road" reached 770.8 billion yuan, an increase of 11.5%, which was 2.8 percentage points higher than the overall national growth rate, accounting for 28.2% of China's total foreign trade value, with a proportion increase of 0.7 percentage points.

Private enterprises have achieved double-digit growth in import and export, and their proportion has increased

In January, the import and export of private enterprises amounted to RMB 1.15 trillion, representing a 17% increase and accounting for 42.3% of China's total foreign trade value, which is 3 percentage points higher than that of the same period last year. Specifically, exports reached RMB 777.36 billion, up 21.9% and accounting for 51.8% of the total export value; imports amounted to RMB 377.62 billion, increasing by 7.9% and representing 30.7% of the total import value. During the same period, foreign-invested enterprises achieved an import and export volume of RMB 1.09 trillion, growing by 2.2% and constituting 40.1% of China's total foreign trade value. Exports from these enterprises amounted to RMB 576.47 billion, up 5.7%, while imports stood at RMB 518.09 billion, a decrease of 1.5%. Furthermore, state-owned enterprises generated RMB 469.82 billion in import and export transactions, marking a 6% increase and accounting for 17.2% of China's total foreign trade value. Specifically, exports from these enterprises were RMB 145.64 billion, representing an 8.3% growth, while imports stood at RMB 324.18 billion, increasing by 5%.

Exports of electromechanical products and labor-intensive products both increased

In January, China's exports of mechanical and electrical products amounted to 857.51 billion yuan, representing an increase of 11.5% and accounting for 57.1% of the total export value. Specifically, exports of electrical and electronic products reached 381.51 billion yuan, up 8.7%; exports of machinery and equipment stood at 246.03 billion yuan, marking a 13.6% increase. During the same period, clothing exports amounted to 94.15 billion yuan, up 9.7%; textiles, 78.73 billion yuan, up 19.7%; furniture, 38.18 billion yuan, up 18.9%; footwear, 35.62 billion yuan, up 14.2%; plastic products, 29.93 billion yuan, up 29.4%; bags and suitcases, 18.02 billion yuan, up 21.4%; toys, 15.81 billion yuan, up 37.9%. The total exports of the aforementioned seven major labor-intensive products amounted to 310.44 billion yuan, representing a 17.4% increase and accounting for 20.7% of the total export value. Furthermore, steel exports reached 6.19 million tons, an increase of 33.3%; and automobile exports stood at 90,000 units, up 16.3%.

Imports of commodities such as crude oil and natural gas have increased, while those of iron ore and soybeans have decreased. The average import prices of bulk commodities have shown mixed trends

In January, China imported 91.26 million tons of iron ore, a decrease of 9.1%, with an average import price of 511.3 yuan per ton, an increase of 7.4%; 42.6 million tons of crude oil, an increase of 5.1%, with an average import price of 3021.1 yuan per ton, a decrease of 3.1%; 33.5 million tons of coal, an increase of 19.5%, with an average import price of 576.4 yuan per ton, an increase of 3.6%; 7.38 million tons of soybeans, a decrease of 13%, with an average import price of 3101.5 yuan per ton, an increase of 12.1%; 9.81 million tons of natural gas, an increase of 26.8%, with an average import price of 3416.2 yuan per ton, an increase of 30.8%; 3.38 million tons of refined oil products, an increase of 17.5%, with an average import price of 3681.7 yuan per ton, an increase of 4.1%; 3.15 million tons of plastics in primary forms, an increase of 7.4%, with an average import price of 10,400 yuan per ton, a decrease of 7.3%; 1.18 million tons of steel, a decrease of 1%, with an average import price of 8178.3 yuan per ton, a decrease of 0.6%; and 480,000 tons of unwrought copper and copper products, an increase of 8.2%, with an average import price of 44,900 yuan per ton, a decrease of 8.5%. In addition, imports of mechanical and electrical products amounted to 519.63 billion yuan, a decrease of 1.6%; among them, 32.42 billion integrated circuits, a decrease of 9.7%, valued at 160.02 billion yuan, a decrease of 3.5%; and 80,000 vehicles, a decrease of 12.3%, valued at 27.82 billion yuan, a decrease of 1%.