According to customs statistics, in the first eight months of 2024, the total import and export value of mainland trade in goods (the same below) was 28.58 trillion yuan, an increase of 6% year-on-year. Among them, exports were 16.45 trillion yuan, an increase of 6.9%; imports were 12.13 trillion yuan, an increase of 4.7 percent; The trade surplus was 4.32 trillion yuan, an increase of 13.6 percent. In dollar terms, in the first eight months, the total value of imports and exports on the mainland was 4.02 trillion US dollars, an increase of 3.7%. Among them, exports were 2.31 trillion US dollars, an increase of 4.6%; imports were 1.71 trillion US dollars, an increase of 2.5%; The trade surplus was 608.49 billion US dollars, an increase of 11.2 percent.
The main features of mainland import and export in the first 8 months of 2024:
First, the import and export of general trade increased
In the first eight months, the mainland's general trade import and export was 18.46 trillion yuan, an increase of 4.6 percent, accounting for 64.6 percent of China's total foreign trade value. Among them, exports were 10.82 trillion yuan, an increase of 8%; imports were 7.64 trillion yuan, an increase of 0.1 percent. In the same period, the import and export of processing trade was 5.04 trillion yuan, an increase of 4.1 percent, accounting for 17.6 percent. Among them, exports were 3.17 trillion yuan, an increase of 1.1%; imports were 1.87 trillion yuan, an increase of 9.9 percent.
In addition, the mainland's import and export in the form of bonded logistics reached 4.03 trillion yuan, an increase of 16.2%. Among them, exports were 1.55 trillion yuan, an increase of 13.3%; imports were 2.48 trillion yuan, an increase of 18.1 percent.
Second, imports and exports to ASEAN, the European Union, United States, and Korea increased
In the first eight months, ASEAN was China's largest trading partner, and the total value of China's trade with ASEAN was 4.5 trillion yuan, an increase of 10%, accounting for 15.7% of China's total foreign trade value. Among them, exports to ASEAN were 2.69 trillion yuan, an increase of 13.1%; imports from ASEAN were 1.81 trillion yuan, an increase of 5.7 percent. The EU is China's second largest trading partner, and the total value of China's trade with the EU is 3.72 trillion yuan, an increase of 1.1%, accounting for 13%. Among them, exports to the EU were 2.44 trillion yuan, an increase of 2.9%; imports from the EU were 1.28 trillion yuan, down 2.1%. United States is China's third largest trading partner, and the total value of China's trade with United States is 3.15 trillion yuan, an increase of 4.4 percent, accounting for 11 percent. Among them, exports to United States were 2.38 trillion yuan, an increase of 5%; Imports from United States were 778.93 billion yuan, an increase of 2.3%. Korea is China's fourth largest trading partner, and the total value of trade between China and Korea is 1.51 trillion yuan, an increase of 8%, accounting for 5.3%. Among them, exports to Korea were 687.6 billion yuan, down 0.1%; Imports from Korea were 826.54 billion yuan, an increase of 15.8%.
During the same period, the mainland's total imports and exports to the Belt and Road countries reached 13.48 trillion yuan, an increase of 7%. Among them, exports were 7.54 trillion yuan, an increase of 7.7%; imports were 5.94 trillion yuan, an increase of 6.1 percent.
3. The import and export of private enterprises and foreign-funded enterprises increased
In the first eight months, the import and export of private enterprises was 15.74 trillion yuan, an increase of 10.5%, accounting for 55.1% of China's total foreign trade value, an increase of 2.3 percentage points over the same period last year. Among them, exports were 10.62 trillion yuan, an increase of 9.8%, accounting for 64.6% of China's total export value; Imports were 5.12 trillion yuan, an increase of 11.9 percent, accounting for 42.2 percent of China's total import value. In the same period, the import and export of foreign-invested enterprises reached 8.4 trillion yuan, an increase of 1.5 percent, accounting for 29.4 percent of China's total foreign trade value. Among them, exports were 4.53 trillion yuan, an increase of 1.8%; imports were 3.87 trillion yuan, an increase of 1.1 percent. The import and export of state-owned enterprises was 4.37 trillion yuan, down 0.1 percent, accounting for 15.3 percent of China's total foreign trade value. Among them, exports were 1.27 trillion yuan, an increase of 2.6%; imports were 3.1 trillion yuan, down 1.1 percent.
Fourth, mechanical and electrical products accounted for nearly 6 percent of exports, of which the export of automatic data processing equipment and its parts, integrated circuits, automobiles and mobile phones increased
In the first eight months, the mainland exported 9.72 trillion yuan of mechanical and electrical products, an increase of 8.8 percent, accounting for 59.1 percent of China's total export value. Among them, automatic data processing equipment and its parts and components were 942.38 billion yuan, an increase of 11.6%; integrated circuits were 736.04 billion yuan, an increase of 24.8%; automobiles 540.84 billion yuan, an increase of 22.2%; mobile phones were 514.37 billion yuan, an increase of 0.5%. In the same period, the export of labor products was 2.8 trillion yuan, an increase of 4.2%, accounting for 17%. Among them, clothing and clothing accessories were 744.39 billion yuan, an increase of 1%; textiles 661.6 billion yuan, up by 5.8 percent; plastic products were 497.95 billion yuan, an increase of 9%. The export of agricultural products was 463.2 billion yuan, up by 4.4 percent.
In addition, the export of steel was 70.575 million tons, an increase of 20.6%; 40.004 million tons of refined oil, a decrease of 5.8%; fertilizer was 19.713 million tons, an increase of 4.4%.
5. Imports of iron ore, coal and natural gas increased, while imports of crude oil decreased
In the first eight months, the mainland imported 815 million tons of iron ore, an increase of 5.2%, and the average import price (the same below) was 811.5 yuan per ton, an increase of 3.6%; crude oil was 367 million tons, down 3.1%, 4,318 yuan per ton, up 7.3%; coal was 342 million tons, an increase of 11.8%, and 709.6 yuan per ton, a decrease of 12.8%; natural gas was 87.128 million tons, an increase of 12.3%, 3484.7 yuan per ton, a decrease of 7.6%; soybeans were 70.478 million tons, an increase of 2.8%, 3630.9 yuan per ton, down 15.1%; refined oil was 32.506 million tons, an increase of 6.2%, and 4399.6 yuan per ton, an increase of 9.2%. In addition, 19.22 million tons of primary shape plastics were imported, an increase of 0.4%, 10,800 yuan per ton, a decrease of 0.5%; unwrought copper and copper products were 3.615 million tons, an increase of 3%, and 67,200 yuan per ton, an increase of 10.2%.
In the same period, imports of mechanical and electrical products were 4.49 trillion yuan, an increase of 10.4%. Among them, there were 358 billion integrated circuits, an increase of 14.8%, and a value of 1.74 trillion yuan, an increase of 14%; 478,000 automobiles, down 1.8%, with a value of 193.61 billion yuan, down 6.6%.
Please indicate the source of the reprint: "Customs Release"
Executive Producer / Tao Yong
Reviewer / Bao Yinghui, Kang Yue
Editor/ Dai Jun
Art Editor / Wei Hao