2024 පළමු කාර්තු ත්‍රිත්වයේ චීනයේ විදේශ වෙළඳාම ඉහළට

China's foreign trade grows 5.3 pct in first 3 quarters

China's total imports and exports of goods expanded 5.3 percent year on year in the first nine months of 2024 to a record high of 32.33 trillion yuan (about 4.56 trillion U.S. dollars), driven by improved demand from home and abroad, the country's customs authority said Monday (Oct. 14).

China's imports and exports in each quarter were 10.15 trillion yuan, 11 trillion yuan and 11.17 trillion yuan, respectively, marking the first time that all the figures exceeding 10 trillion yuan, according to the General Administration of Customs (GAC).

"According to customs statistics, in the first three quarters, China's imports and exports totaled 32.33 trillion yuan, up 5.3 percent year on year. Among them, exports reached 18.62 trillion yuan, up 6.2 percent while imports were 13.71 trillion yuan, up 4.1 percent," said Wang Lingjun, deputy head of the GAC, at a press conference in Beijing.

In the domestic market, business entities of all types demonstrated great vitality, and private enterprises achieved rapid growth from January to September.

"In the first three quarters, the imports and exports of China's private enterprises went up 9.4 percent to 17.78 trillion yuan. It took up 55 percent of China's total foreign trade volume, up 2.1 percentage points," said Wang.

Internationally, a rebound in external demand has created favorable conditions for the country's exports, said Wang, adding China's trade with more than 160 countries and regions around the world surged during the period.

"China's imports and exports with countries participating in the Belt and Road Initiative (BRI) amounted to 15.21 trillion yuan, marking a 6.3 percent increase and accounting for 47.1 percent of its total trade volume; those with other RCEP member countries totaled 9.63 trillion yuan, up 4.5 percent; those with ASEAN came in at 5.09 trillion yuan, up 9.4 percent; those with the European Union and the United States reached 4.18 trillion yuan and 3.59 trillion yuan, up 0.9 percent and 4.2 percent, respectively," said Wang.

China's export structure improved further with high-end equipment, such as integrated circuits and automobiles, growing more than 40 percent.

Looking forward, Wang said China's foreign trade faces challenges mainly from rising protectionism, but at the same time, positive factors are also accruing to support growth in the fourth quarter.

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