China's foreign trade imports and exports in January initially recovered to the same period in 2008

According to figures released by the General Administration of Customs on the 10th, China's foreign trade continued to grow in January, and it has initially returned to the same period in 2008.

According to customs statistics, the total value of China's foreign trade imports and exports in January was US$204.78 billion, a year-on-year increase of 44.4%. Among them, exports were US$109.47 billion, an increase of 21%; imports were US$95.31 billion, an increase of 85.5%. The trade surplus was US$14.16 billion, a decrease of 63.8%.

Customs analysis pointed out that due to the dual impact of the international financial crisis and the Spring Festival factors, imports and exports fell sharply during the same period last year, and the comparison base was small, resulting in a significant year-on-year increase in imports and exports in January this year. Compared with January 2008, the total value of imports and exports in January this year increased by 2.4%.

Customs statistics show that in January, general trade imports and exports amounted to US$106.36 billion, a year-on-year increase of 45%. Among them, exports were US$51.98 billion, an increase of 13.3%; imports were US$54.38 billion, an increase of 97.9%. In the same period, the import and export of processing trade was 76.06 billion U.S. dollars, an increase of 40.4%. Among them, exports were US$49.17 billion, an increase of 27.2%; imports were US$26.89 billion, an increase of 73.4%.

In January, the EU was China's largest trading partner. The total bilateral trade value between China and the EU was 35.18 billion U.S. dollars, a year-on-year increase of 26%. The United States is China's second largest trading partner. The total value of bilateral trade between China and the United States is 26.48 billion U.S. dollars, an increase of 19.1%. Benefiting from the official operation of the China-ASEAN Free Trade Area, ASEAN surpassed Japan to become China's third largest trading partner, with a total bilateral trade value of USD 21.48 billion, an increase of 80%. In addition, the total value of bilateral trade between China and Japan was 19.65 billion US dollars, an increase of 35.5%.

In the same period, China’s exports of mechanical and electrical products amounted to US$62.51 billion, an increase of 27%, which was 6 percentage points higher than the overall export growth rate in the same period and accounted for 57.1% of the total export value in the same period. Among traditional commodity exports, clothing exports fell by 4.9%; textiles, footwear, and furniture exports increased by 18.2%, 1.4%, and 7.6%, respectively.

Among imported goods, the import volume of major bulk commodities has increased to varying degrees, and the average import price has generally seen a significant rebound. Among them, the import of iron ore increased by 43%, and the average import price increased by 11.2%; the import of soybean increased by 34.5%, and the average import price increased by 17.8%; the import of coal increased by 4.4 times, and the average import price increased by 20.1%. In the same period, imports of mechanical and electrical products increased by 66.1%, of which automobile imports increased by 1.4 times.