China’s Foreign Trade Up 17.1% YOY in Jan-Aug 2017


According to China Customs statistics, in January-August 2017, China's foreign trade in goods totaled RMB 17.83 trillion yuan, up 17.1% year-on-year (YOY). Therein, export value 9.85 trillion yuan, up 13%; import value 7.98 trillion yuan, up 22.5%; trade surplus 1.87 trillion yuan, less by 15.1% YOY.

For August alone, the foreign trade value was 2.41 trillion yuan, up 10.1% YOY. Therein, export value 1.35 trillion yuan, up 6.9% YOY; import value 1.06 trillion yuan, up 14.4%; trade surplus 286.5 billion yuan, 14% less YOY.

In the first eight months:

Ordinary trade mode totaled 10.12 trillion yuan, up 17.9%, accounting for 56.7% of the gross value; processing trade totaled 5.08 trillion yuan, up 13.8%, accounting for 28.5%; Customs special controlled trade totaled 1.83 trillion yuan, up 14.4%, accounting for 10.3%.

China-EU trade totaled 2.71 trillion yuan, an increase of 16.1%; China-US trade value 2.53 trillion yuan, an increase of 19.1%; China-ASEAN trade value 2.2 trillion yuan, an increase of 19.9%; China-Japan trade value 1.32 trillion yuan, an increase of 15.4%.

China's private enterprises made import and export totaling 6.87 trillion yuan, up 18.3%, accounting for 38.5%; foreign-invested enterprises import and export totaled 7.92 trillion yuan, up 13.6%, accounting for 44.4%; state-owned enterprises import and export totaled 2.99 trillion yuan, up 24.3%, accounting for 16.7%.

Main exports were electromechanical products and traditional labor-intensive products; increased imports were iron ore, crude oil and natural gas.

Source: China Customs
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