Home breadcru News breadcru Import/Exports breadcru China's foreign trade up by 8.3% YoY in Jan-May 2022

China's foreign trade up by 8.3% YoY in Jan-May 2022

10 Jun '22
1 min read
Pic: Shutterstock
Pic: Shutterstock

China's imports and exports totalled 16.04 trillion yuan ($2.4 trillion) between January and May this year, growing by 8.3 per cent year on year (YoY), according to the general administration of customs, which recently said exports grew by 11.4 per cent on a yearly basis to 8.94 trillion yuan, while imports increased by 4.7 per cent from last year to 7.1 trillion yuan.

The nation's trade value with the Association of Southeast Asian Nations (ASEAN), the European Union (EU), the United States and South Korea were respectively worth 2.37 trillion yuan, 2.2 trillion yuan, 2 trillion yuan and 970.71 billion yuan, increasing by 8.1 per cent, 7 per cent, 10.1 per cent and 8.2 per cent YoY respectively.

ASEAN members remain the largest trading partner for China, accounting for 14.8 per cent of the nation's total foreign trade, according to official Chinese media.

ALCHEMPro News Desk (DS)

Get Free Weekly Market Insights Newsletter

Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!