CHINA China's foreign trade up 8.8 pct in first five months

CHINA

China's foreign trade up 8.8 pct in first five months

Xinhua

15:40, June 08, 2018

China's goods trade rose 8.8 percent year on year to 11.63 trillion yuan (about 1.82 trillion U.S. dollars) in the first five months, customs data showed Friday.

Dongdu Port in Xiamen [Photo: VCG]

Dongdu Port in Xiamen (Photo: VCG)

Exports rose 5.5 percent year on year to 6.14 trillion yuan in the January-May period while imports grew 12.6 percent to 5.49 trillion yuan, resulting in a trade surplus of 649.8 billion yuan, which narrowed by 31 percent, according to the General Administration of Customs (GAC).

In May, the goods trade surplus shrank by 43.1 percent to 156.5 billion yuan, as exports rose 3.2 percent year on year to 1.34 trillion yuan, while imports surged 15.6 percent to 1.19 trillion yuan, according to the GAC.

In the first five months, exports and imports of products under the general trade category surged 12.7 percent year on year to 6.84 trillion yuan, accounting for 58.8 percent of the total foreign trade volume, 2 percentage points higher than the same period last year.

China's trade with countries along the Belt and Road registered faster-than-average growth, with the trade volume standing at 3.21 trillion yuan, up 11.1 percent year on year.

Chinese private enterprises played a bigger role in trade by contributing 38.9 percent to total trade, up 1 percentage point compared with the same period last year.

Exports and imports made by foreign-funded companies totaled 4.95 trillion yuan, up 4.3 percent, contributing 42.6 percent of the total foreign trade volume during the January-May period. 

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