China’s foreign trade surges 32.2 per cent to 5.44T yuan

The outbreak has driven down commodity prices and placed huge swathes of Chinese territory on lockdown, potentially disrupting purchasing demands in the US-China trade deal. Photo: AP. Sketched by the Pan Pacific Agency.

BEIJING, Mar 7, 2021, China Daily. China’s foreign trade amounted to 5.44 trillion yuan ($834.49 billion) in the first two months of this year, up 32.2 percent year-on-year, according to the General Administration of Customs, China Daily reported.

The country’s exports soared 50.1 percent on a yearly basis to 3.06 trillion yuan from January to February, while its imports surged 14.5 percent year-on-year to 2.38 trillion yuan. Its trade surplus reached 675.86 billion yuan.

In the meantime, China’s trade with the Association of Southeast Asian Nations reached 786.2 billion yuan, an increase of 32.9 percent year-on-year, while trade with the European Union rose 39.8 percent to 779.04 billion yuan, according to the GAC.

The goods trade value between China and the United States grew 69.6 percent year-on-year to 716.37 billion yuan during the same period.

Despite the impact of the COVID-19 pandemic and uncertainties in other parts of the world, China registered positive growth in foreign trade in the first two months of this year, said Li Kuiwen, director-general of the GAC’s statistics and analysis department.

The country’s foreign trade totaled 2.24 trillion yuan in February, jumping 57 percent year-on-year, according to Customs data.

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