Sep 10, 2019 (China Knowledge) - In the first eight months, the total import and export volume of China reached RMB 20.13 trln (about USD 2.95 trln), a YoY increase of 3.6%, according to the data released by China’s General Administration of Customs. Its export volume reached RMB 10.95 trln, up 6.1% YoY, while its imports realized RMB 9.18 trln, up 0.8% YoY. The trade surplus was RMB 1.77 trln, a YoY increase of 46%.
During that period, China's foreign trade pattern have changed greatly. The total trade volume between the US and China registered RMB 2.42 trln, down 9% YoY, lagging behind the EU and ASEAN. China’s largest trade partner in the first eight months was the EU, with a trade volume totaled RMB 3.15 bln, a YoY increase of 9.7%. While the total trade between China and its second largest trade partner ASEAN reached RMB 2.74 trln, up 11.7% YoY.
The statistics show that in the first eight months, China's foreign trade with Latin America and Africa and other emerging markets increased by 8.4% and 8.8% respectively, 4.8% and 5.2% higher than the overall growth rate. China’s foreign trade with countries along the “the belt and road initiative” increased by 9.9% YoY, 6.3% higher than the overall growth rate of China’s foreign trade in the same period. Among them, China’s foreign trade with Saudi Arabia, Poland and Uzbekistan increased by 36.3%, 22.2% and 23.6% YoY respectively.
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