China’s foreign trade of goods up 9.4% in H1

China’s foreign trade of goods jumped 9.4 percent year on year to 19.8 trillion yuan (about 2.94 trillion U.S. dollars) during the first half of the year, official data showed Wednesday, July 13.

Exports rose 13.2 percent year on year to 11.14 trillion yuan, while imports increased 4.8 percent from a year ago to 8.66 trillion yuan, according to the General Administration of Customs (GAC).

“The growth of foreign trade picked up significantly in May and June,” said Li Kuiwen, spokesperson for the GAC.

As the epidemic prevention and control situation improves and pro-growth policies are taking effect, foreign trade enterprises have resumed work and production in an orderly manner since May.

“In particular, the rapid recovery of imports and exports in the Yangtze River Delta led to a marked rebound in the overall growth of China‘s foreign trade,” Li said.

China’s foreign trade growth accelerated to 14.3 percent in June, compared with 9.5 percent in May and 0.1 percent in April.

In the first half of the year, China’s trade with its top three trading partners — the Association of Southeast Asian Nations, the European Union, and the United States — expanded by 10.6 percent, 7.5 percent, and 11.7 percent from a year ago, respectively.

China is also the main trade partner of Brazil. See below the track record of Brazilian container imports from China, measured in TEU, from January 2019 to May 2022. The data is from DataLiner.

Container Imports from China | Jan 2019 – May 2022 | TEU

Source: DataLiner (click here to request a demo)

From January to June, China’s trade with Belt and Road countries and members of the Regional Comprehensive Economic Partnership soared by 17.8 percent and 5.6 percent year on year.

In terms of types of goods, imports and exports of mechanical and electrical products expanded by 4.2 percent to account for 49.1 percent of the total.

Private enterprises posted strong performance as their imports and exports grew 13.6 percent year on year in the first half, outpacing the country’s overall growth.

China’s exports of labor-intensive products increased 13.5 percent to 1.99 trillion yuan, while imports of energy products including crude oil, natural gas, and coal surged 53.1 percent, customs data showed.

Source: Comex do Brasil with information from Xinhua Agency

To read the full original article, please go to: https://www.comexdobrasil.com/comercio-exterior-de-mercadorias-da-china-sobe-94-no-1o-semestre-e-ultrapassa-us-29-trilhoes/

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