General Administration of Customs: The total value of China's goods trade imports and exports in the first two months was 6.61 trillion yuan, an increase of 8.7% year-on-year.

On March 7, according to customs statistics, in the first two months of 2024, China's total value of goods trade import and export was 6.61 trillion RMB, an increase of 8.7% year-on-year. Among them, exports were 3.75 trillion RMB, an increase of 10.3%; imports were 2.86 trillion RMB, an increase of 6.7%; and the trade surplus was 890.87 billion RMB, an increase of 23.6%. In terms of US dollars, in the first two months, China's total value of imports and exports was 930.86 billion US dollars, an increase of 5.5%. Among them, exports were 528.01 billion US dollars, an increase of 7.1%; imports were 402.85 billion US dollars, an increase of 3.5%; and the trade surplus was 125.16 billion US dollars, an increase of 20.5%. For the full text, please refer to the original document. China's foreign trade import and export increased by 8.7% in the first two months of 2024: According to customs statistics, in the first two months of 2024, China's total value of goods trade import and export was 6.61 trillion RMB, an increase of 8.7% year-on-year. Among them, exports were 3.75 trillion RMB, an increase of 10.3%; imports were 2.86 trillion RMB, an increase of 6.7%; and the trade surplus was 890.87 billion RMB, an increase of 23.6%. In terms of US dollars, in the first two months, China's total value of imports and exports was 930.86 billion US dollars, an increase of 5.5%. Among them, exports were 528.01 billion US dollars, an increase of 7.1%; imports were 402.85 billion US dollars, an increase of 3.5%; and the trade surplus was 125.16 billion US dollars, an increase of 20.5%. Main features of China's imports and exports in the first two months of 2024: General trade imports and exports increased, with a higher proportion. In the first two months, China's general trade imports and exports totaled 4.34 trillion RMB, an increase of 10%, accounting for 65.7% of the total foreign trade value, an increase of 0.8 percentage points from the same period last year. Among them, exports were 2.48 trillion RMB, an increase of 14.5%; imports were 1.86 trillion RMB, an increase of 4.6%. During the same period, processing trade imports and exports totaled 1.12 trillion RMB, a decrease of 3.5%, accounting for 16.9%. Among them, exports were 701.81 billion RMB, a decrease of 8.4%; imports were 418.32 billion RMB, an increase of 5.8%. In addition, China's imports and exports through bonded logistics reached 886.94 billion RMB, an increase of 16.9%. Among them, exports were 346.42 billion RMB, an increase of 18.4%; imports were 540.52 billion RMB, an increase of 15.9%. Imports and exports to ASEAN, the United States, and South Korea increased. In the first two months, ASEAN was China's largest trading partner, with a total trade value of 993.24 billion RMB, an increase of 8.1%, accounting for 15% of China's total foreign trade value. Among them, exports to ASEAN were 587.9 billion RMB, an increase of 9.2%; imports from ASEAN were 405.34 billion RMB, an increase of 6.6%; and the trade surplus with ASEAN was 182.56 billion RMB, an increase of 15.7%. The European Union was China's second largest trading partner, with a total trade value of 832.39 billion RMB, a decrease of 1.3%, accounting for 12.6%. Among them, exports to the European Union were 555.88 billion RMB, an increase of 1.6%; imports from the European Union were 276.51 billion RMB, a decrease of 6.8%; and the trade surplus with the European Union was 279.37 billion RMB, an increase of 11.5%. The United States was China's third largest trading partner, with a total trade value of 707.7 billion RMB, an increase of 3.7%, accounting for 10.7%. Among them, exports to the United States were 521.99 billion RMB, an increase of 8.1%; imports from the United States were 185.71 billion RMB, a decrease of 7%; and the trade surplus with the United States was 336.28 billion RMB, an increase of 18.8%. South Korea was China's fourth largest trading partner, with a total trade value of 336.92 billion RMB, an increase of 2.9%, accounting for 5.1%. Among them, exports to South Korea were 150.45 billion RMB, a decrease of 6.8%; imports from South Korea were 186.47 billion RMB, an increase of 12.3%; and the trade deficit with South Korea was 36.02 billion RMB, an increase of 703.2%. During the same period, China's total imports and exports with countries participating in the Belt and Road Initiative reached 3.13 trillion RMB, an increase of 9%. Among them, exports were 1.75 trillion RMB, an increase of 13.5%; imports were 1.38 trillion RMB, an increase of 3.9%. Imports and exports of private enterprises and state-owned enterprises increased. In the first two months, the import and export volume of private enterprises was 3.61 trillion RMB, an increase of 17.7%, accounting for 54.6% of China's total foreign trade value, an increase of 4.2 percentage points from the same period last year. Among them, exports were 2.45 trillion RMB, an increase of 19.2%, accounting for 65.3% of the total export value; imports were 1.16 trillion RMB, an increase of 14.6%, accounting for 40.7% of the total import value. State-owned enterprises had import and export volume of 1.06 trillion RMB, an increase of 1.7%, accounting for 16.1% of China's total foreign trade value. Among them, exports were 282.86 billion RMB, a decrease of 1.6%; imports were 781.76 billion RMB, an increase of 3%. During the same period, the import and export volume of foreign-invested enterprises was 1.92 trillion RMB, a decrease of 1.7%, accounting for 29% of China's total foreign trade value. Among them, exports were 1.01 trillion RMB, a decrease of 3.8%; imports were 903.27 billion RMB, an increase of 0.8%. Machinery and electronic products accounted for nearly 60% of exports, with exports of automatic data processing equipment, integrated circuits, and cars increasing. In the first two months, China's exports of machinery and electronic products totaled 2.22 trillion RMB, an increase of 11.8%, accounting for 59.1% of the total export value. Among them, exports of automatic data processing equipment and its components were 195.45 billion RMB, an increase of 7.3%; integrated circuits were 160.71 billion RMB, an increase of 28.6%; cars were 111.89 billion RMB, an increase of 15.8%. During the same period, exports of labor-intensive products were 666.19 billion RMB, an increase of 22.2%, accounting for 17.8%. Among them, exports of clothing and accessories were 166.2 billion RMB, an increase of 16.3%; textiles were 154.33 billion RMB, an increase of 18.9%; plastic products were 118.28 billion RMB, an increase of 26.5%. Exports of Shenzhen Agricultural Power Group were 105.37 billion RMB, an increase of 5.9%. Imports of major commodities such as iron ore, crude oil, coal, and natural gas increased. In the first two months, China imported 209 million tons of iron ore, an increase of 8.1%, with an average import price per ton of 931.7 RMB, an increase of 17.1%; 88.308 million tons of crude oil, an increase of 5.1%, with an average import price per ton of 4127.8 RMB, an increase of 1.1%; and 74.515 million tons of coal, an increase of 22.9%.2 yuan, a decrease of 20.9%; natural gas 22.1 million tons, an increase of 23.6%, price per ton 3638.4 yuan, a decrease of 21.1%; soybeans 13.03 million tons, a decrease of 8.8%, price per ton 4054.8 yuan, a decrease of 12.6%; refined oil 7.576 million tons, an increase of 35.6%, price per ton 4171.6 yuan, an increase of 1.1%. In addition, imports of primary plastic materials 4.636 million tons, a decrease of 3.7%, price per ton 10,300 yuan, a decrease of 2.6%; imported unwrought copper and copper materials 902,000 tons, an increase of 2.6%, price per ton 61,400 yuan, an increase of 0.8%. During the same period, imported mechanical and electrical products amounted to 974.08 billion yuan, an increase of 11%.This article is selected from the "Customs Release" WeChat public account; Edited by GMTEight: Huang Xiaodong.