China's export increases rapidly, ASEAN remains the largest trading partner
According to the latest data released by the General Administration of customs, in August, China's foreign trade import and export reached 2.88 trillion yuan, an increase of 6%. Among them, exports were 1.65 trillion yuan, up 11.6%, 1.2 percentage points faster than that in July; imports were 1.23 trillion yuan, down 0.5%, with the growth rate turning from positive to negative; and the trade surplus was 416.59 billion yuan.
In the first eight months of this year, China's total value of import and export was 20.05 trillion yuan, down 0.6% year-on-year, 1.1 percentage points lower than that of the previous seven months. Among them, export was 11.05 trillion yuan, up 0.8%; import was 9 trillion yuan, down 2.3%; trade surplus was 2.05 trillion yuan, increasing by 17.2%.
In specific commodities, in the first eight months, China's export of mechanical and electrical products reached 6.47 trillion yuan, an increase of 2.1%. Imports of integrated circuits totaled 333.46 billion, an increase of 22.5%, and a value of 1.51 trillion yuan, an increase of 15.3%.
Among the trading partners, ASEAN is still China's largest trading partner. The total trade value between China and ASEAN reached 2.93 trillion yuan in the first eight months, an increase of 7%. The EU ranked second with a total trade value of 2.81 trillion yuan, an increase of 1.4%.
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