China’s imports and exports in the first three quarters turned positive

China's imports and exports in the first three quarters turned positive

Li Kuiwen, a spokesperson for the General Administration of Customs, released data that in the first three quarters, China’s exports increased by 1.8% year-on-year, while imports fell by 0.6%.

The total value of China’s imports and exports of goods trade in the first three quarters was 23.12 trillion yuan (RMB, the same below), an increase of 0.7% year-on-year, and the cumulative growth rate of foreign trade imports and exports turned positive for the first time since 2020.

It is worth mentioning that in the third quarter, China’s imports and exports reached 8.88 trillion yuan, a year-on-year increase of 7.5%. Among them, exports were 5 trillion yuan, an increase of 10.2%; imports were 3.88 trillion yuan, an increase of 4.3%, and the total value of imports and exports, total exports, and total imports all hit a quarterly record high.

From the perspective of growth rate, the import and export growth rates in the first three quarters were minus 6.5%, minus 0.2%, and 7.5%, showing a sharp decline in the first quarter, stabilizing in the second quarter, and a full rebound in the third quarter.

From January to September, China’s imports and exports with ASEAN, the European Union, the United States, Japan, and South Korea were 3.38 trillion yuan, 3.23 trillion yuan, 2.82 trillion yuan, 1.61 trillion yuan, and 1.45 trillion yuan, an increase of 7.7%, 2.9%, 2%, 1.4%, 1.1%.

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