China's foreign trade dips 0.1 pct in January-August

(Xinhua) 14:02, September 07, 2023

BEIJING, Sept. 7 (Xinhua) -- China's imports and exports in yuan terms edged down 0.1 percent year on year to 27.08 trillion yuan (about 3.76 trillion U.S. dollars) in the first eight months of the year, official data showed Thursday.

Exports grew 0.8 percent year on year to 15.47 trillion yuan for January-August, while imports declined 1.3 percent from one year earlier to 11.61 trillion yuan, according to the General Administration of Customs.

In August alone, the country's foreign trade declined 2.5 percent from one year earlier, but expanded 3.9 percent from the previous month, the data revealed.

The country's exports shrank 3.2 percent year on year last month, while imports went down 1.6 percent, with the pace of declines both easing compared with those registered in July.

In the first eight months of 2023, the Association of Southeast Asian Nations (ASEAN) remained China's largest trade partner. China's trade with ASEAN countries rose 1.6 percent year on year and accounted for 15.2 percent of the country's total trade value.

China's trade with the European Union fell 1.5 percent from a year earlier, while its trade with the United States declined 8.7 percent year on year during the January-August period. Its trade with countries along the Belt and Road rose 3.6 percent year on year.

A breakdown of the data showed China's exports of machinery and electronic products, which accounted for 58 percent of total exports, increased 3.6 percent during the period, with the export value of automobiles surging 104.4 percent from one year earlier.

(Web editor: Zhang Kaiwei, Liang Jun)


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