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Exports

China's Goods Trade Continues to Demonstrate Resilience Amid Global Uncertainties

Strategic Insights

— 2 min read

China's goods imports and exports increased 3.5 percent year-on-year in August, marking the third consecutive month that both exports and imports achieved simultaneous growth. According to China Central Television (CCTV), spokesman Fu Linghui of the National Bureau of Statistics (NBS) attributed the growth to the continued improvement in trade structure. The total value of imports and exports of goods reached 3.8744 trillion yuan (about US$543.80 billion) in August, with exports increasing 4.8 percent and imports rising 1.7 percent. In the first eight months, the total value of imports and exports of goods was 29.5696 trillion yuan, with exports up by 6.9 percent and imports down by 1.2 percent.

Key Takeaways:

  • China's goods imports and exports increased 3.5 percent year-on-year in August, marking the third consecutive month of simultaneous growth.
  • In August, the total value of imports and exports of goods was 3.8744 trillion yuan, up 3.5 percent from the previous year.
  • The total value of exports amounted to 2.3035 trillion yuan in August, an increase of 4.8 percent, while the total value of imports stood at 1.5709 trillion yuan, up by 1.7 percent.
  • In the first eight months, the total value of imports and exports of goods was 29.5696 trillion yuan, with exports up by 6.9 percent and imports down by 1.2 percent.
  • Imports and exports with the Belt and Road partner countries grew by 5.4 percent in the first eight months.
  • Imports and exports by private enterprises increased by 7.4 percent in the first eight months, accounting for 57.1 percent of total imports and exports.
  • Exports of mechanical and electrical products rose by 9.2 percent in the first eight months, accounting for 60.2 percent of total exports.
  • China's foreign exchange reserves rose by US$29.9 billion at the end of August, showing a steady and upward trend.

Statistics:

  • Total value of imports and exports of goods in August: 3.8744 trillion yuan (about US$543.80 billion)
  • Total value of exports in August: 2.3035 trillion yuan (increase of 4.8 percent)
  • Total value of imports in August: 1.5709 trillion yuan (up by 1.7 percent)
  • Total value of imports and exports of goods in the first eight months: 29.5696 trillion yuan (year-on-year increase of 3.5 percent)
  • Total value of exports in the first eight months: 17.6056 trillion yuan (up by 6.9 percent)
  • Total value of imports in the first eight months: 11.964 trillion yuan (down by 1.2 percent)

Sources:

  • China Central Television (CCTV)
  • National Bureau of Statistics (NBS)
  • Spokesman Fu Linghui of the National Bureau of Statistics (NBS)

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