Imports and exports of Chinese goods grew 4.8 percent year on year in the first quarter of this year, reflecting a 0.8 percent decline in the first two months of this year.
And the Chinese General Administration of Customs stated in a statement today that exports grew by 8.4% year-on-year to reach 5.65 trillion yuan (about 823 billion US dollars), while imports increased by 0.2% to 4.24 trillion yuan, bringing the total trade to 9.89 trillion yuan. .
Foreign trade has improved over the past three months. After declining 7% year-on-year in January due to the Spring Festival holiday, it recovered to an expansion of 8% in February before reaching 15.5% in March.
The growth rate in the first quarter of this year accelerated by 2.6 percentage points from the figure recorded in the fourth quarter of last year, according to the General Authority of Customs.
During the period, the Association of Southeast Asian Nations (ASEAN) remained China’s largest trading partner. China’s trade with ASEAN countries rose 16.1 percent year on year, 11.3 percentage points higher than the country’s overall trade growth rate.
Trade with countries along the “Belt and Road” jumped 16.8 percent year on year, while trade with other members of the Regional Comprehensive Economic Partnership grew 7.3 percent during the period.
