Chinese Foreign Trade Rises 10.7% in Q1 2022

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China has seen robust growth in its foreign trade levels since the start of 2022, as the global economy continues to ease pandemic containment measures.

In the first quarter Chinese imports and exports of goods totalled 9.42 trillion yuan, for a year-on-year (YoY) rise of 10.7%, according to figures released by China’s General Administration of Customs (GAC) on 13 April.

Exports were 5.23 trillion yuan, for a YoY rise of 13.4%, while imports were 4.19 trillion yuan, for a YoY rise of 7.5%.

Chinese goods trade with ASEAN nations was 1.35 trillion yuan, for YoY growth of 8.4%, while trade with the Eurozone was 1.31 trillion yuan, for a YoY rise of 10.2%.

Trade with the US totalled 1.18 trillion yuan, for YoY growth of 9.9%, while trade with South Korea and Japan was 574.18 billion yuan and 571.03 billion yuan, for YoY growth rates of 12.3% and 1.8% respectively.

Official data further indicates that trade between China and Belt and Road nations grew 16.7% in the first quarter compared to the same period last year, while trade with RCEP partners grew 6.9%.