China’s imports and exports from January to September 2022 rose by 9.9 per cent year-on-year (YoY) and were worth 31.11 trillion yuan (around $4.29 trillion). While imports to the country were valued at 13.44 trillion yuan (5.2 per cent YoY), exports added up to 17.67 trillion yuan (13.8 per cent YoY).
The East Asian nation’s annual import and export growth rates for the period were 4.8 per cent and 13.2 per cent, respectively. China’s trade with the European Union, the United States, and the Association of Southeast Asian Nations increased by 9 per cent, 8 per cent, and 15.2 per cent, respectively, according to the General Administration of Customs China (GACC).
Moreover, general trade for China jumped 13.7 per cent to stand at 19.92 trillion yuan in the first nine months of 2022, which is around 64 per cent of the total foreign trade — a rise of 2.1 percentage points compared to the corresponding period in 2021.