Press
China's Total Import and Export Value in the First 10 Months was 34.32 Trillion Yuan
2023-10-09

The General Administration of Customs released data on the 7th, stating that in the first 10 months of this year, China's total import and export value was 34.32 trillion yuan, a year-on-year increase of 0.03%. Among them, exports reached 19.55 trillion yuan, an increase of 0.4%; Import of 14.77 trillion yuan, a decrease of 0.5%; The trade surplus reached 4.78 trillion yuan, an increase of 3.2%.


The main characteristics of China's imports and exports in the first 10 months are: growth in general trade imports and exports, and an increase in proportion. In the first 10 months, China's general trade import and export reached 2226 trillion yuan, an increase of 1.8%, accounting for 64.9% of China's total foreign trade value, an increase of 1.1 percentage points compared to the same period last year; Growth in imports and exports to ASEAN, as well as imports from the European Union and the United States; The import and export of private enterprises have maintained growth. In the first 10 months, the import and export of private enterprises reached 18.24 trillion yuan, an increase of 6.2%, accounting for 53.1% of China's total foreign trade value, an increase of 3.1 percentage points compared to the same period last year; The export proportion of mechanical and electrical products is nearly 60%, and the export of agricultural products is increasing.


In the first 10 months, ASEAN became my largest trading partner, with a total trade value of 5.23 trillion yuan, an increase of 0.9%, accounting for 15.2% of my total foreign trade value. The total trade value between China and the European Union was 4.59 trillion yuan, a decrease of 1.6%, accounting for 13.4%. Among them, exports to the European Union reached 2.94 trillion yuan, a decrease of 5%; Imports from the European Union reached 1.65 trillion yuan, an increase of 5.1%; The trade surplus with the European Union narrowed by 15.3%. The United States is my third largest trading partner, with a total trade value of 3.86 trillion yuan, a decrease of 7.6%, accounting for 11.2%. Among them, exports to the United States reached 2.91 trillion yuan, a decrease of 9.9%; Import from the United States reached 948.87 billion yuan, an increase of 0.2%; The trade surplus with the United States narrowed by 14.1%. Over the same period, China's total imports and exports to countries jointly building the "the Belt and Road" totaled 15.96 trillion yuan, an increase of 3.2%. Among them, exports reached 8.78 trillion yuan, an increase of 7.7%; Imports reached 7.18 trillion yuan, a decrease of 1.8%.


In the first 10 months, China's export of mechanical and electrical products reached 11.43 trillion yuan, an increase of 2.8%, accounting for 58.5% of the total export value. Among them, automatic data processing equipment and its components amounted to 1.09 trillion yuan, a decrease of 17.5%; Mobile phones reached 762.9 billion yuan, a decrease of 2%; Automobile sales reached 58.2.43 billion yuan, an increase of 88.5%. During the same period, the export of labor-intensive products reached 3.4 trillion yuan, a decrease of 2.4%, accounting for 17.4%. In addition, the export of agricultural products reached 563.09 billion yuan, an increase of 6.7%. From the perspective of imported products, the import volume of major commodities such as iron ore, crude oil, coal, natural gas, and soybeans has increased; Imported mechanical and electrical products reached 5.31 trillion yuan, a decrease of 7.6%.

Fablog logistics consulting&planning, experts of logistics and supply chain