In the first 10 months, exports such as spinning and fabrics increased by 29.4%

In the first 10 months of this year, China's foreign trade continued to show strong growth, with total import and export value reaching $2.39 trillion, marking a 36.3% increase compared to the same period last year. This impressive performance not only surpassed the previous year's levels but also saw both exports and imports exceed their full-year figures from 2022. Exports totaled $1.27 trillion, rising by 32.7%, while imports reached $1.12 trillion, up 40.5%. The trade surplus stood at $147.77 billion, declining slightly by 6.7% from the previous year. In October alone, China's trade volume hit $244.81 billion, an increase of 24% compared to the previous month. Exports grew by 22.9% to $135.98 billion, though this was slightly slower than the prior month’s growth rate. Imports rose by 25.3% to $108.83 billion, showing a stronger performance than the previous month. Under general trade, China’s total import and export value reached $119.18 billion in the first 10 months, climbing 40% year-on-year. Exports under this category were $579.11 billion, up 36.5%, outpacing overall export growth by 3.8 percentage points. Imports surged by 43.6% to $612.71 billion, exceeding national import growth by 3.1 percentage points. The trade deficit under general trade reached $33.6 billion, a significant increase from the same period in 2009. Processing trade remained robust, with total value reaching $898.9 billion, up 30.5%. Exports under this category were $597.51 billion, growing by 28.4%, while imports rose to $341.39 billion, up 34.3%. The processing trade surplus reached $256.12 billion, up 21.3% and accounting for 1.7 times the total surplus during the same period. China’s trade with major partners also showed solid growth. Bilateral trade with the EU reached $388.42 billion, up 32.9%. With the U.S., trade totaled $310.71 billion, increasing by 29.8%. Trade with Japan reached $239.28 billion, up 31.3%. China’s trade deficit with Japan rose to $45.12 billion, up 80.2%. Trade with ASEAN hit $235.4 billion, surging by 42%, with exports reaching $111.14 billion and imports $124.3 billion. Regionally, Guangdong led with $627.28 billion in trade, up 30.1%. Jiangsu, Shanghai, and Beijing followed with $378.06 billion, $298.88 billion, and $243.26 billion respectively, all showing growth rates above 35%. Zhejiang, Shandong, and Fujian also performed well, contributing significantly to the national trade volume. The central and western regions experienced remarkable growth. Gansu saw its trade volume jump by 120%, far outpacing the national average. Yunnan, Tibet, and Jiangxi also recorded impressive increases, with growth rates exceeding 65%. In terms of exports, mechanical and electrical products remained a key driver, valued at $750.42 billion, up 32.9%. Electrical and electronic goods accounted for $309.42 billion, while machinery exports reached $250.7 billion. Textile exports fell slightly, as did furniture and toy exports, though they still showed positive growth. On the import side, primary plastics saw a slight decline in volume but higher prices. Soybean imports rose sharply by 25.8%, and machinery and electronics imports reached $536.32 billion, with car imports increasing by 110%. Overall, China's trade performance continues to reflect resilience and dynamic growth across various sectors and regions.

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