22.7% increase in China’s foreign trade during the first three quarters

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Official data released Wednesday showed that China’s total imports and exports expanded 22.7 percent year on year to 28.33 trillion yuan (about 4.38 trillion US dollars) during the first three quarters of 2021.

According to the General Authority of Customs, the figure recorded an increase of 23.4 percent from its level before the epidemic in 2019. Both exports and imports continued to achieve double-digit growth in the first nine months of this year, growing by 22.7 percent and 22.6 percent for the year Previous in order.

In the January-September period, China’s trade with its three largest trading partners – the Association of Southeast Asian Nations, the European Union and the United States – maintained healthy growth, and the growth rates of China’s trade value with the three trading partners were 21.1 percent, 20.5 percent and 24. 9 percent, respectively.

Customs data showed that China’s trade with countries along the Belt and Road rose 23.4 percent year on year during the same period, while the country’s trade with RCEP members rose 19.3 percent.

Private enterprises saw imports and exports increase by 28.5 percent to 13.65 trillion yuan in the first nine months, accounting for 48.2 percent of the country’s total.

The imports and exports of state-owned enterprises rose 25.1 percent to 4.35 trillion yuan in the period. Exports of mechanical and electrical products, as well as pharmaceuticals and medical materials, posted strong growth in the first three quarters.

Auto exports increased by 107 percent year on year in the period, while exports of medicines and medical materials increased by 108 percent.

In September alone, the country’s imports and exports rose 15.4 percent year on year, down 3.5 percentage points from August, according to the data.

The article, 22.7% increase in foreign trade in China during the first three quarters, was written in Al Borsa newspaper.