Beijing, August 8: According to data released by the Chinese National Customs Administration, China’s foreign trade in July reached a total of 46.6 trillion yuan, maintaining strong growth momentum from the first half of the year.
This marks the fifth consecutive month that China’s monthly foreign trade has exceeded 40 trillion yuan. Compared to the same period last year, this represents a 19.2% increase, with exports rising by 17.8% and imports by 21.2%.
In the first seven months of this year, China’s total foreign trade, including imports and exports, reached 30.13 trillion yuan, which is 17.3% higher than the same period last year. Exports accounted for 17.44 trillion yuan, while imports totaled 12.69 trillion yuan.
Liu Taliang, director of the Statistical Analysis Department of the Chinese National Customs Administration, stated that the Chinese economy has maintained stable growth amid various challenges, providing robust support for the continuous increase in foreign trade.
In the export sector, electronic and machinery products have performed particularly well. In the first seven months, exports of these products reached 11.12 trillion yuan, making up 63.8% of China’s total exports, an increase of 3.8 percentage points compared to the previous year. Notable growth was seen in electric vehicles, which surged by 71.2%, lithium batteries by 35.8%, 3D printers by 110%, industrial robots by 13.2%, and ship exports by 32.7%.
On the import side, China has remained the world’s second-largest importer for the 17th consecutive year. In the first seven months, the growth rate of imports exceeded that of exports by 8 percentage points, improving the trade balance. During this period, imports of bulk commodities rose by 3%, while imports of electronic and machinery products reached 5.31 trillion yuan, accounting for 41.9% of total imports.
Furthermore, in the first seven months, China’s trade expanded with over 180 countries and regions. Trade with ASEAN countries grew by 20%, with the European Union by 9.5%, with Latin America by 15.4%, and with Africa by 18.9%. Trade with Belt and Road co-construction countries increased by 15.5%, and trade with APEC economies rose by 21%.
However, trade with the United States saw a decline of 1.6%, although this drop was 2 percentage points less than in the first six months of this year.
(Source: China Media Group, Beijing)
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