China’s foreign trade experienced faster growth in the first four months of this year, despite external demand uncertainties, trade risks, and other challenges. According to the General Administration of Customs (GAC), China’s total imports and exports reached 13.32 trillion yuan (approximately 1.92 trillion U.S. dollars) in the period, an increase of 5.8 percent year on year. This growth rate accelerated by 1 percentage point from the pace recorded in the first quarter. During the period, exports rose by 10.6 percent year on year, while imports increased by 0.02 percent.
The data showed that China’s trade with the Association of Southeast Asian Nations and the European Union increased by 13.9 percent and 4.2 percent, respectively, from January to April. China’s trade with Belt and Road countries also surged by 16 percent year on year to 4.61 trillion yuan during this period. Specifically, the country’s trade with five Central Asian countries, including Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan, increased by 37.4 percent, partially offsetting weak demand in traditional markets.
In the first four months, private enterprises experienced a fast growth rate, as imports and exports increased by 15.8 percent to 7.05 trillion yuan, accounting for more than half of the country’s total. In terms of types of goods, exports of mechanical and electrical products expanded by 10.5 percent, accounting for 57.9 percent of the total exports. Additionally, driven by robust exports of new energy vehicles, automobile exports soared 120.3 percent year on year during the period.
Furthermore, a monthly customs survey revealed that the proportion of enterprises with growing export orders had increased for four consecutive months. In April alone, foreign trade increased by 8.9 percent year on year, according to the GAC.