China’s GAC Issues Report on Recent Foreign Trade Statistics

Posted by Reading Time: 2 minutes

Nov. 8 – According to a report on the latest situation of China’s foreign trade issued by the General Administration of Customs (GAC) in October, the country’s exports in September reached a record high by posting 9.9 percent growth.

As forwarded by the report, China’s imports and exports in September amounted to US$345.03 billion, up 6.3 percent year-on-year, among which:

  • Exports reached US$186.35 billion, up 9.9 percent, hitting a record high
  • Imports reached US$158.68 billion, up 2.4 percent
  • Trade surplus reached US$27.67 billion

For the first three quarters on 2012, exports of electromechanical products posted steady growth and exports of textiles and costumes grew slightly. Concurrently, imports of energy and resource products increased steadily, while import prices for iron ore, copper and aluminum declined sharply.

Over the same period, China’s imports and exports reached US$2.84247 trillion, a 6.2 percent year-on year increase, among which:

  • Exports reached US$1.49539 trillion, a 7.4 percent year-on year increase
  • Imports reached US$1.34708 trillion, a 4.8 percent year-on year increase
  • Trade surplus reached US$148.31 billion

Meanwhile, the country’s imports and exports of general trade amounted to US$1.49897 trillion, up 5.9 percent, while the figure for processing trade stood at US$982.94 billion, up 2.2 percent.

Imports and exports by different types of enterprises in the first three quarters

  • Imports and exports of foreign-invested enterprises amounted to US$1.39947 trillion, up 2.2 percent, but 4 percentage points lower than the overall growth rate of China’s foreign trade
  • Imports and exports of private enterprises (including collective, privately-owned and other enterprises) amounted to US$877.97 billion, up 18.8 percent and 12.6 percentage points higher than the overall growth rate of China’s foreign trade
  • Imports and exports of state-owned enterprises amounted to US$565.03 billion, down 0.8 percent

Bilateral trade with major trade partners in the first three quarters

  • Bilateral trade with the European Union reached US$410.99 billion, a 2.7 percent decline
  • Bilateral trade with the United States reached US$355.42 billion, a 9.1 increase
  • Bilateral trade with the ASEAN reached US$288.87 billion, an 8.1 percent increase
  • Bilateral trade with Japan reached US$248.76 billion, a 1.8 decrease
  • Bilateral trade with Russia reached US$66.17 billion, a 14.2 percent increase
  • Bilateral trade with Brazil reached US$65.42 billion, a 5 percent increase

You can stay up to date with the latest business and investment trends across China by subscribing to The China Advantage, our complimentary update service featuring news, commentary, guides, and multimedia resources.

Related Reading

The Complete ‘Letters from America to Asia’ Series
A complete list of past articles from our ongoing ‘Letters from America to Asia Series’ featuring opinions and observations on America’s trade relations with China and emerging Asia.

China’s MoC Reports Q1-Q3 Commercial Performance

China Releases Report on Foreign Trade Situation (Fall 2012)

Opinions Issued on Promoting the Steady Growth of Foreign Trade