The overall stability of Chinese foreign trade imports and exports in the first 7 months of 2023

According to data released by the Chinese State Customs Bureau on August 8, in the first seven months of this year, the total value of import and export of China’s merchandise trade stood at 235.5 trillion yuan, up 0.4 percent from January to July last year. increased. Among them, exports stood at 134.7 trillion yuan and imports at 100.8 trillion yuan, an increase of 1.5 percent and a decrease of 1.1 percent, respectively, compared with the same time last year.
In July, the import-export of China’s foreign trade was 34.6 trillion yuan, down 8.3 percent from July last year. According to the Chinese State Customs Bureau official, since the second quarter of this year, China’s monthly import and export scale has remained stable at more than 3.4 trillion yuan. Overall, the country’s foreign trade import and export is running smoothly and in line with expectations, and the basic situation of long-term reform has not changed.
ASEAN remains China’s largest trading partner. In the first seven months, the total trade value between China and ASEAN was 35.9 trillion yuan, up 2.8 percent from the first seven months of last year. At the same time, China’s imports and exports with major trading partners such as the European Union, the United States and Japan decreased by 0.1 percent, 9.6 percent, and 5.8 percent, respectively.
In the same period, China’s total imports and exports to countries along the “Belt and Road” were 80.6 trillion yuan, an increase of 7.4 percent over the same period last year. Imports and exports increased by 35 percent in the five Central Asian countries, continuing the rapid growth. At the same time, the rate of growth in imports and exports in Latin America and Africa was 5.5 percent and 7.4 percent, respectively. Obviously, China’s diversified and stable economic trade relations continue to expand.
(Credits- China Media Group, Beijing)