China Import & Export Exceeds Last Year

China Import & Export Exceeds Last Year

China Import & Export Exceeds Last Year

China Import & Export Exceeds Last YearAccording to China customs, China import & export value in the first 11 months of 2021 has exceeded that of 2020. China import & export trade is continuously improving in both quantity and quality.

In U.S. dollars, China import & export value totalled US$5470 billion in the first 11 months of 2021, up 31.3% year-over-year or up 31.9% compared to the same period in 2019. Export value was US$3030 billion, up 31.1% year-over-year or up 33.9% compared to the same period in 2019. Imports value was US$2440 billion, up 31.4% year-over-year or up 29.6% compared to the same period in 2019. Trade surplus was US$581.71 billion, up 29.8% year-over-year.

In November, China import & export value turned out to be US$579.34 billion, up 26.1% year-over-year or up 42.8% compared to the same period in 2019. Exports value was US$325.53 billion, up 22% year-over-year or up 47% compared to the same period in 2019. Imports value was US$253.81 billion, up 31.7% year-over-year or up 37.7% compared to the same period in 2019. Trade surplus was US$71.72 billion, down 3.4% compared to the same period last year.

For the first 11 months, China import & export trade with ASEAN (Association of Southeast Asian Nations), the European Union and America all grew.

  • Trade with ASEAN increased 20.6% year-over-year to RMB5110 billion (US$802.8 billion), accounting for 14.4% of total China foreign trade value. Export to ASEAN was RMB 2810 billion (US$441.4 billion), up 18.9% year-over-year, while import from ASEAN increased 22.8% year-over-year to RMB 2300 billion (US$361.3 billion). Trade surplus with ASEAN was RMB47 billion (US$ billion), up 3.8% year-over-year.
  • Trade with the European Union increased 20% year-over-year to RMB 4840 billion (US$760.3 billion), accounting for 13.7% of total China foreign trade value. Export to the European Union was RMB 3010 billion (US$472.8 billion), up 23.9% year-over-year while import from the European Union was RMB 1830 billion (US$287.5 billion), up 14.2%. Trade surplus with the European Union was RMB 1180 billion (US$185.4 billion), up 42.5% year-over-year.
  • Trade with America increased 21.1% to RMB 4410 billion (US$692.7 billion), accounting for 12.5% of total China foreign trade value. Export to America was RMB 3360 billion (US$527.8 billion), up 19.2% year-over-year, while import from America was RMB 1050 billion (US$164.9 billion), up 27.5% year-over-year. Trade surplus with America was RMB 2310 billion (US$362.8 billion), up 15.8% year-over-year.
  • Trade with Japan increased 10.7% to RMB 2200 billion (US$345.5 billion), accounting for 6.2% of total China foreign trade value. Exports to Japan increased 8.8% year-over-year to RMB03 billion (US$153.8 billion), while imports from Japan increased 12.2% year-over-year to RMB 1220 billion (US$191.6 billion). Trade Surplus with Japan was RMB 242.28 billion (US$38.1 billion), up 28.4% year-over-year.

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