Sun, 09 May 2021

China's foreign trade up 29.2 pct in Q1

Xinhua
13 Apr 2021, 15:44 GMT+10

© Provided by Xinhua

BEIJING, April 13 (Xinhua) -- China's total goods imports and exports surged 29.2 percent year on year to 8.47 trillion yuan (about 1.29 trillion U.S. dollars) in the first quarter of 2021, official data showed Tuesday.

Exports jumped 38.7 percent from a year earlier while imports climbed 19.3 percent in yuan terms, the General Administration of Customs (GAC) said.

GAC spokesperson Li Kuiwen attributed the surge in foreign trade to China's continuous progress in epidemic prevention and control, as well as economic and social development.

The country's trade surplus expanded 690.6 percent to reach 759.29 billion yuan.

Private enterprises have become more vibrant and have become the main driving force for China's foreign trade growth. Their foreign trade expanded by 42.7 percent to 3.95 trillion yuan in the first quarter.

The Association of Southeast Asian Nations remained China's largest trading partner during the period, followed by the European Union and the United States, the GAC data showed.

In the first quarter, China's trade with countries along the Belt and Road rose 21.4 percent year on year to reach 2.5 trillion yuan. The country's imports and exports to Vietnam, Indonesia and Poland achieved relatively rapid growth.

The country's trade with the other 14 members of the Regional Comprehensive Economic Partnership amounted to 2.67 trillion yuan in the first quarter, up 22.9 percent year on year and accounting for 31.5 percent of its total imports and exports during the period.

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