An increase of 5.2%

According to customs statistics, in the first 10 months of 2024, the total import and export value of China's trade in goods (the same below) was 36.02 trillion yuan, an increase of 5.2% compared with the same below. Among them, the export was 20.8 trillion yuan, up by 6.7%; Imports reached 15.22 trillion yuan, up 3.2%. Trade surplus was 5.58 trillion yuan, an increase of 17.6 percent. In dollar terms, in the first 10 months, China's import and export value was 5.07 trillion US dollars, up 3.7 percent. Among them, the export was 2.93 trillion US dollars, up by 5.1%; Imports reached US $2.14 trillion, up 1.7%. The trade surplus was 785.27 billion US dollars, up by 15.8%.

Main features of China's import and export in the first 10 months of 2024:

1. Import and export of general trade and processing trade increased

In the first 10 months, China's general trade imports and exports were 23.09 trillion yuan, an increase of 3.9%, accounting for 64.1% of China's total foreign trade. Of this total, the export was 13.58 trillion yuan, up by 7.8%; Imports were 9.51 trillion yuan, down 1.2%. During the same period, the import and export of processing trade reached 6.53 trillion yuan, an increase of 4%, accounting for 18.1%. Of this total, the export was 4.13 trillion yuan, up by 1.6%; Imports reached 2.4 trillion yuan, up 8.3%. In addition, China's import and export by bonded logistics was 5.09 trillion yuan, an increase of 14%. Of this total, the export was 1.96 trillion yuan, up by 11.5%; Imports reached 3.13 trillion yuan, an increase of 15.7%.

2.the growth of imports and exports to ASEAN, the EU, the United States and South Korea

In the first 10 months of this year, ASEAN was China's largest trading partner. The total value of China's trade with ASEAN reached 5.67 trillion yuan, an increase of 8.8%, accounting for 15.7% of China's total foreign trade. Among them, the export to ASEAN was 3.36 trillion yuan, up by 12.5%; China imported 2.31 trillion yuan from ASEAN, an increase of 3.8 percent. Its trade surplus with ASEAN reached 1.05 trillion yuan, an increase of 38.2%. The EU is my second largest trading partner, and the total value of our trade with the EU was 4.64 trillion yuan, up 1.2%, accounting for 12.9%. Among them, the export to the European Union was 3.04 trillion yuan, up by 3.5%; Imports from the EU reached 1.6 trillion yuan, down 2.9%; Its trade surplus with the EU was 1.44 trillion yuan, an increase of 11.6 percent. The United States is China's third largest trading partner, with the total value of China's trade with the United States reaching 4.01 trillion yuan, up 4.4 percent and accounting for 11.1 percent. Among them, the export to the United States was 3.04 trillion yuan, up by 4.9%; Imports from the United States reached 969.48 billion yuan, up 2.9 percent; Its trade surplus with the US was 2.07 trillion yuan, an increase of 5.8%. South Korea is China's fourth largest trading partner. The total value of China's trade with South Korea was 1.91 trillion yuan, an increase of 6.7%, accounting for 5.3%. Among them, the export to South Korea was 855.67 billion yuan, down 0.8%; Imports from the ROK reached 1.05 trillion yuan, up 13.8%; The trade deficit with the ROK was 19.874 billion yuan, an increase of 2.1 times. In the same period, China's imports and exports to countries jointly building the Belt and Road Initiative totaled 16.94 trillion yuan, an increase of 6.2%. Of this total, exports reached 9.48 trillion yuan, up by 8%; Imports reached 7.46 trillion yuan, up 3.9%.

3. Imports and exports of private and foreign-funded enterprises increased

In the first 10 months, the import and export of private enterprises reached 19.85 trillion yuan, an increase of 9.3%, accounting for 55.1% of China's total foreign trade, an increase of 2.1 percentage points over the same period last year. Among them, exports reached 13.37 trillion yuan, up by 9.3%, accounting for 64.3% of China's total exports. Imports reached 6.48 trillion yuan, up 9.3%, accounting for 42.6% of China's total imports. During the same period, the import and export of foreign-invested enterprises reached 10.61 trillion yuan, an increase of 1.3%, accounting for 29.5% of China's total foreign trade. Specifically, the export was 5.77 trillion yuan, up by 1.9%; Imports reached 4.84 trillion yuan, up 0.5%. Imports and exports of state-owned enterprises were 5.48 trillion yuan, down 0.5%, accounting for 15.2% of China's total foreign trade. Of this total, the export was 1.63 trillion yuan, up by 4.2%; Imports were 3.85 trillion yuan, down 2.3%.

4.Mechanical and electrical products accounted for nearly 60% of exports, of which automatic data processing equipment and its parts, integrated circuits and automobiles exports grew by double digits

In the first 10 months, China exported 12.36 trillion yuan of mechanical and electrical products, an increase of 8.5%, accounting for 59.4% of the total value of China's exports. Among them, automatic data processing equipment and its components were 1.2 trillion yuan, an increase of 10.9%; Integrated circuit 931.17 billion yuan, an increase of 21.4%; Mobile phone 753.97 billion yuan, down 0.9%; Automobiles totaled 698.54 billion yuan, up 20%. In the same period, the export of labor products was 3.48 trillion yuan, an increase of 3.2%, accounting for 16.7%. Among them, clothing and clothing accessories 932.75 billion yuan, up 0.7%; 829.52 billion yuan for textiles, up 5.8%; Plastic products reached 615.58 billion yuan, up 7.4%. The export of agricultural products reached 587.53 billion yuan, up 4.4%. In addition, 91.893 million tons of steel were exported, an increase of 23.3%; 49.156 million tons of refined oil, a decrease of 7.2%; Fertilizer was 25.902 million tons, an increase of 0.6%.

5.Imports of iron ore, coal and natural gas increased

In the first 10 months, China imported 1.023 billion tons of iron ore, an increase of 4.9%, and the average import price (the same below) was 778.2 yuan per ton, down 1.6%; Crude oil 457 million tons, down 3.4%, 4,246.1 yuan per ton, up 2.2%; 435 million tons of coal, up 13.5%, 694.3 yuan per ton, down 12.2%; 110 million tons of natural gas, up 13.6%, 3,506.7 yuan per ton, down 5.5%; 89.936 million tons of soybeans, an increase of 11.2%, 3600.3 yuan per ton, down 15.2%; Refined oil was 40.921 million tons, up 4.9%, to 4,347.7 yuan per ton, up 5.7%. In addition, imports of primary shape plastic 23.949 million tons, a decrease of 1.8%, 10,800 yuan per ton, up 0.1%; Unforged rolled copper and copper material 4.6 million tons, up 2.4%, 67,500 yuan per ton, up 10.7%. In the same period, the import of mechanical and electrical products was 5.75 trillion yuan, an increase of 8.6%. Among them, there were 455.62 billion integrated circuits, an increase of 15%, with a value of 2.24 trillion yuan, an increase of 13%; The number of cars was 577,000, down 9.3%, with a value of 233.44 billion yuan, down 13%.