According to data released by the General Administration of Customs on the 14th, in the first three quarters of this year, China’s import and export of goods reached 39.94 trillion yuan, up 18.8% year-on-year, with a strong growth momentum, which injected strong momentum into global economic and trade growth.
Data show that in the first quarter of this year, China’s import and export increased by 15.3% year-on-year, increased by 18.3% in the second quarter, and the growth rate in the third quarter further increased to 22.3%. From a monthly perspective, it maintained a double-digit growth rate for six consecutive months. In September, imports and exports reached 5.16 trillion yuan, exceeding 5 trillion yuan for the first time, up 27.5% year-on-year.
Vertically, the growth rate of foreign trade in the first three quarters was the fastest in the same period of the past five years, and the quarterly and monthly growth rates also showed an overall acceleration trend. Horizontally, the latest international data show that such trade growth rate ranks in the forefront among major economies, and China continues to rank as the largest country in global trade in goods.
While China’s import and export have maintained rapid growth, market diversification has been consolidated and expanded, and the development momentum has been improved. In the first three quarters, China’s trade with more than 180 countries and regions around the world increased. The import and export of free trade partners was 19.55 trillion yuan, up 30% year-on-year, contributing over 70% of the increase in foreign trade. The export products turned green, the export of integrated circuits increased by 99.1%, and the export of green products such as electric vehicles, lithium batteries, wind turbines and their parts increased by 72.3%, 36.4% and 22.4% respectively.
Generally speaking, China’s foreign trade effectively responded to various external shocks and challenges in the first three quarters and maintained a good development momentum. Although the current international situation is chaotic and intertwined, and various risks and challenges emerge one after another, the momentum and vitality of China’s foreign trade development have increased and its resilience has been demonstrated. The sustained growth of imports and exports in the fourth quarter has a foundation and support.
Source: official website, General Administration of Customs
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