During the first eight months of the year, China experienced significant growth in foreign trade, with total imports and exports reaching 34.78 trillion yuan, equivalent to $5.18 trillion. This marks a 17.6% increase compared to the same period last year. Exports rose by 14.6% to 20.17 trillion yuan, while imports saw an even larger increase of 22%, amounting to 14.61 trillion yuan.
The momentum in trade growth was particularly strong in August, with total goods imports and exports increasing by 19.8% year-on-year, reaching 4.65 trillion yuan. During this period, exports climbed by 18.6%, while imports surged by 21.7%, showcasing robust performance in both sectors.
For four consecutive months, both exports and imports have achieved double-digit year-on-year growth. Notably, import growth has consistently outpaced export growth over the past six months, highlighting a trend that has persisted throughout this period.
These figures underscore the resilience and dynamism of China’s trade activities, as both exports and imports continue to expand at a rapid pace. This trend is indicative of strong demand for Chinese goods abroad as well as increasing domestic consumption of foreign products.