In 2019, China'S Import And Export Value Increased By 3.4% Over The Same Period, Which Is Expected To Win The First Largest Trade In Goods.

The latest data released by China Customs General Administration on 14 may show that in 2019, the total value of China's import and export trade in goods was 31 trillion and 540 billion yuan (the same below RMB), an increase of 3.4% over the same period last year. Among them, exports were 17 trillion and 230 billion yuan, an increase of 5%; imports of 14 trillion and 310 billion yuan, an increase of 1.6%; trade surplus of 2 trillion and 920 billion yuan, an expansion of 25.4%.

In December, the total value of China's imports and exports reached 3 trillion and 10 billion yuan, up 12.7% from the same period last year. Among them, exports amounted to 1 trillion and 670 billion yuan, an increase of 9%, imports of 1 trillion and 340 billion yuan, an increase of 17.7%, and import and export, export and import volume all reached a monthly historical peak.

Zou Zhiwu, deputy director of the Customs General Administration, said at a news conference held on the same day that from the preliminary analysis, China is still expected to continue to maintain the status of the world's largest trade in goods in 2019.

According to China's trade frictions, ASEAN took the place of the United States as the second largest trading partner in 2019. Its bilateral trade value increased by 14.1% over the same period last year. The growth rate ranked first among China's major trading partners, and the total trade value of China and Europe increased by 8%. The total trade value between China and Japan increased by 0.4%. In addition, China's total value of imports and exports of the countries along the "belt and road" has increased by 10.8%.

In 2019, private enterprises surpassed foreign enterprises for the first time to become the largest foreign trade entities in China. According to customs data, private enterprises contributed 42.7% of China's total foreign trade in 2019, up 3.1 percentage points from 2018.

On the import side, meat imports increased significantly in 2019, including 2 million 108 thousand tons of imported pork, an increase of 75%, and 1 million 659 thousand tons of imported beef, an increase of 59.7%. Over the same period, imports of crude oil amounted to 5.06 million tons, an increase of 9.5%; imports of natural gas 96 million 560 thousand tons, an increase of 6.9%.

Zou Zhiwu said that taking into account the structural reform of the supply side in depth, the domestic "six stability" policy measures continue to fall into effect and other favorable factors, it is expected that China's foreign trade in 2020 is expected to continue to maintain overall stable growth.