Latest data from China's General Administration of Customs says the country's economy is gathering momentum after the easing of COVID-19 restrictions, with foreign trade making a good start in the first quarter of the year. Sun Tianyuan reports.
Official customs data shows China's foreign trade achieved stable growth in the first three months of this year.
Foreign trade volume went up by 4.8 percent year-on-year to nearly 10 trillion yuan, or about 1-point-5 trillion dollars.
Exports rose by 8-point-4 percent despite sluggish global demand, while imports increased slightly by 0-point-2 percent.
LYU DALIANG Director General, Department of Statistics and Analysis, China's General Administration of Customs "China has accelerated resumption of work and production after a smooth transition to a new stage of epidemic prevention and control. With production and demand gradually improving, the country's economic operation, imports and exports have seen a stable and progressive recovery."
Trade with the ASEAN bloc of southeast Asian nations, China's largest trading partner, surged by more than 16 percent to exceed 1-point-5 trillion yuan.
Accounting for 15-point-8 percent of China's total foreign trade in the first quarter of the year.
The Customs Administration credits China's relaxing of COVID-19 restrictions for the growth.
LYU DALIANG Director General, Department of Statistics and Analysis, China's General Administration of Customs "Travel efficiency through land borders and ports has improved. This has boosted the recovery of China's border trade growth with ASEAN. In the first quarter, border imports and exports between China and ASEAN reached more than 386-point-8 trillion yuan, up by 102-point-3 percent."
The Customs Administration also noted an overall increase in exports of electro-mechanical products, as well as imports of energy products and consumers goods.
SUN TIANYUAN Beijing "Lyu says China's foreign trade is strong and resilient, but it still faces geopolitical and other global challenges. The official says they're unlikely to stop the growth momentum of imports and exports this year. Sun Tianyuan, CGTN, Beijing."
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(1) China's Total Export & Import Values, March 2023 (in CNY) |
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|
|
|
|
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Unit: CNY 100 Million |
|
Item |
3 |
1-to-3 |
3 |
1-to-3 |
|
|
Month-on-Month % |
Year-on-Year % |
Year-on-Year % |
|||
|
Total Export & Import |
37,093.8 |
98,876.9 |
32.8 |
15.5 |
4.8 |
|
Total Export |
21,551.9 |
56,483.6 |
48.4 |
23.4 |
8.4 |
|
Total Import |
15,541.9 |
42,393.3 |
15.9 |
6.1 |
0.2 |
|
Export-Import Balance |
6,010.1 |
14,090.2 |
- |
- |
- |
|
Note: |
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|
(1) China's Total Export & Import Values, March 2023 (in USD) |
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|
Unit: USD 100 Million |
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|
Item |
3 |
1-to-3 |
3 |
1-to-3 |
|
|
Month-on-Month ±% |
Year-on-Year ±% |
Year-on-Year ±% |
|||
|
Total Export & Import |
5,429.9 |
14,389.5 |
32 |
7.4 |
-2.9 |
|
Total Export |
3,155.9 |
8,218.3 |
47.5 |
14.8 |
0.5 |
|
Total Import |
2,274.0 |
6,171.2 |
15.3 |
-1.4 |
-7.1 |
|
Export-Import Balance |
881.9 |
2,047.1 |
- |
- |
- |
|
Note: |
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(1) China's Total Export & Import Values, March 2023 (in USD)
Source: General Administrator of Customs of the People's Republic of China
