Guangzhou (JLC), November 11, 2024--China's foreign trade grew 5.2% year on year to 36.02 trillion yuan (5.03 trillion US dollars) in the first 10 months of 2024, according to the General Administration of Customs of the PRC (GACC).
The trade surplus hit 5.58 trillion yuan, a surge of 17.6% from the same period of time last year, the GACC data showed.
In breakdown, the export value of goods gained 6.7% to 20.80 trillion yuan in the period, while the import value of goods increased 3.2% to 15.22 trillion yuan, the GACC data indicated.
The growth in exports accelerated from 6.2% in the first nine months, while that in imports slowed down from 4.1%.
The country’s trade with the Association of Southeast Asian Nations (ASEAN), the European Union (EU), the United States of America (USA) and South Korea all grew.
China’s trade with ASEAN grew 8.8% to 5.67 trillion yuan, accounting for 15.7% of the country's total foreign trade. Its exports to ASEAN surged 12.5% to 3.36 trillion yuan, and its imports from ASEAN rose by 3.8% to 2.31 trillion yuan.
The country’s trade with EU, China’s second largest trading partner, went up by 1.2% to 4.64 trillion yuan, with its exports to EU up 3.5% to 3.04 trillion yuan but imports from the partner down 2.9% to 1.6 trillion yuan.
Meanwhile, China’s trade with the USA gained 4.4% to 4.01 trillion yuan, with its exports up 4.9% to 3.04 trillion yuan, the GACC said.
In October alone, China's total foreign trade was 3.70 trillion yuan, down 1.2% month on month but up 4.6% year on year, the GACC also said. Exports climbed up 1.25 month on month or 11.2% year on year.
