Thursday, December 02, 2021

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China’s foreign trade grew from January to May

China’s foreign trade grew from January to May

Beijing, Jun 8 (Prensa Latina) China's foreign trade grew 28.2 percent year-on-year in the first five months of 2021, driven by the continued dynamism of exports, the General Administration of Customs reported.
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The total volume during the January-May period was 14.76 trillion yuan (2.31 trillion dollars), the agency said.

In detail, exports rose by 30.1 percent, imports grew by 25.9 percent and the trade surplus increased by 56.2 percent to 1.32 trillion yuan (about 210 million dollars).

Notably, in May, foreign sales recorded an annual growth of 27.9 percent, while purchases achieved an expansion of 51.1 percent, the fastest growth in a decade.

The Association of Southeast Asian Nations (ASEAN) remained China’s largest trading partner during the first five months of 2021, with the value of trade between the two sides growing by 29.2 percent.

In the same period China also kept increased mercantile exchanges with the member countries of the European Union, the Belt and Road initiative and even with the United States, which has waged a trade war against it since 2018.

China closed last year with an expansion of 1.9 percent in trade and a 2.3-percent increase in the Gross Domestic Product (GDP).

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