China's trade sector demonstrated robust growth, expanding by 2.9% to USD2.98 trillion in US dollar terms during the first half of the year, according to the latest data from the General Administration of Customs.
Imports into China grew by 2% to USD1.27 trillion, while exports increased by 3.6% to USD1.71 trillion, resulting in a trade surplus of USD435 billion, up by 8.6% year-on-year. In June alone, China's trade volume reached USD516.7 billion, marking a 3.3% increase.
The Association of Southeast Asian Nations (ASEAN) emerged as China's leading trade partner, with bilateral trade volumes rising by 7.1% to USD472.5 billion. Imports from ASEAN countries grew by 2% to USD187 billion, while exports expanded by 10.7% to USD285.5 billion. Notably, trade volumes with Vietnam and Malaysia surged by 21% and 11%, respectively.
Conversely, China-EU trade contracted by 3.7% to USD382.4 billion. Trade with the United States showed mixed results, with imports declining by 4.9% to USD81.4 billion and exports increasing by 1.5% to USD241.3 billion, resulting in a trade surplus of USD159.9 billion.
China's exports of mechanical and electronic products rose by 4.9% to nearly USD1 trillion, with integrated circuits exports surging by 22% to USD76.4 billion. However, exports of labor-intensive goods like clothing remained stable, while footwear exports decreased by 5.4% and furniture and parts exports grew by 15%.
On the import side, China saw notable increases in imports of mechanical and electronic products, integrated circuits, and high-tech goods, particularly automated data processing equipment and parts, which rose by almost 54% to USD32.1 billion. Meanwhile, imports of agricultural products, meat, and grains declined.
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