China’s total import and export value in the first 11 months decreased by 7.8% year-on-year

The General Administration of Customs released data on December 8. In the first 11 months of this year, China’s total import and export value was 22.08 trillion yuan, down 7.8% from the same period last year. Among them, exports were 12.71 trillion yuan, and imports were 9.37 trillion yuan, down 2.2% and 14.4% respectively. The trade surplus in the first 11 months was 3.34 trillion yuan, an increase of 63%.

Statistics show that in November, China's total import and export value was 2.16 trillion yuan, down 4.5%. Among them, exports were 1.25 trillion yuan, down 3.7%, and the decline was basically the same as last month; imports were 910 billion yuan, down 5.6%, and the decline was about 10 percentage points lower than last month; the trade surplus was 343.1 billion yuan, an increase of 2%.

Since the beginning of this year, China's exports to the United States and ASEAN have maintained growth, with exports of 2.32 trillion yuan and 1.55 trillion yuan respectively, up 5% and 3.7% year-on-year; exports to the EU and Japan have declined, with a decline of 3.9% and 8.9% respectively. During the same period, China’s imports from major trading partners declined.

In the first 11 months, China's imports of major commodities such as iron ore, crude oil, grain and refined oil increased, while imports of coal and steel decreased, and prices of major imported commodities generally fell. In the first 11 months, China imported 857 million tons of iron ore, an increase of 1.3%. The average import price was 380.8 yuan per ton, down 39.7%; imported crude oil was 302 million tons, an increase of 8.7%, and the average import price was 2534.8 yuan per ton. It fell 45.6%; imported coal was 186 million tons, a decrease of 29.4%, and the average import price was 371.5 yuan per ton, down 21.5%.

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