According to data released by the General Administration of Customs, Chinas total import and export value in the first seven months of this yearimport and exportreached 23.55 trillion yuan, a year-on-year increase of 0.4%. Exports totaled 13.47 trillion yuan, up 1.5%, while imports reached 10.08 trillion yuan, down 1.1%.

In USD terms, Chinas total import and export value in the first seven months was $3.4 trillion, down 6.1%. Exports amounted to $1.94 trillion, down 5%, while imports totaled $1.46 trillion, down 7.6%.

Julyforeign tradeData

In July, Chinas import and export value reached 3.46 trillion yuan, down 8.3%. Exports totaled 2.02 trillion yuan, down 9.2%, while imports reached 1.44 trillion yuan, down 6.9%. The trade surplus narrowed by 14.6% to 575.7 billion yuan.

In USD terms, Chinas import and export value in July was $482.92 billion, down 13.6%. Exports amounted to $281.76 billion, down 14.5%, while imports totaled $201.16 billion, down 12.4%. The trade surplus narrowed by 19.4% to $80.6 billion.

Trade partners

ASEAN became Chinas largest trading partner with total trade value of 3.59 trillion yuan. The EU and the US were Chinas second and third largest trading partners, with trade values of 3.22 trillion yuan and 2.64 trillion yuan respectively.

Specific export commodities

Automobile exports became a key growth driver, with export value reaching 383.73 billion yuan in the first seven months, up 118.5%.

Foreign trade enterprise vitality

Private enterprises have become the backbone of Chinas foreign trade, accounting for 52.9% of total trade value. State-owned enterprises recorded import and export value of 3.82 trillion yuan, while foreign-invested enterprises reached 7.21 trillion yuan.

Survey data from CCPIT shows that 75.1% of foreign trade enterprises maintain stable or relatively confident attitudes toward development in Q3 this year.

Overall, Chinas foreign trade business remains stable, but still faces some challenges. To achieve sustainable development, it is necessary to strengthen trade cooperation with various countries, especially those along the Belt and Road initiative, while supporting enterprises in developing new export markets and tapping the potential of domestic foreign trade companies.

The above content is sourced from the General Administration of Customs.ZhongShen International TradeAs a one - stop importExport RepresentationThe service provider can provide customized import and export solutions for various industries. If you need foreign trade import and export agency services, please feel free to contact our company for business consultation. The consultation hotline is 139 - 1787 - 2118.