China's foreign trade increased by 4.9% in the first 11 months, with quality and quantity stable

Created on 2024.12.12

The total value of China's import and export of goods in the first 11 months of this year was 39.79 trillion yuan, with a year-on-year increase of 4.9%.

Total value of China's import and export of goods in the first 11 months of this year: 39.79 trillion yuan. Exports: 23.04 trillion yuan, up 6.7% year-on-year. Imports: 16.75 trillion yuan, up 2.4% year-on-year. Total import and export value in November: 3750.63 billion yuan, a year-on-year increase of 1.2%. Exports increased by 5.8%, imports decreased by 4.7%. Trade surplus: 692.8 billion yuan. Top trading partners: ASEAN, EU, United States, South Korea.

Exports of electromechanical products with high technical content and added value accounted for nearly 60% of exports in the first 11 months. Exports of containers, ships, and motorcycles increased by 108.7%, 65.3%, and 24.8% respectively. Import volume of minerals, energy, etc. continued to grow last month. Import of electronic components, electromechanical products, etc. maintained a relatively fast growth rate, indicating China's demand is still recovering and the effects of counter-cyclical policies are gradually emerging.

- Electromechanical products export: 13.7 trillion yuan, up 8.4% year-on-year, accounting for 59.5% of total export value.
- Automatic data processing equipment and parts export: increased by 11.4% year-on-year.
- Integrated circuits export: increased by 20.3% year-on-year.
- Automobiles export: increased by 16.9% year-on-year.

Analysts said that the strong resilience of external demand, the recovery of overseas demand for electronic products, the "rush to tariffs" of foreign trade merchants to stock up in advance, and the effectiveness of the policy of stabilizing foreign trade, etc., have supported exports. China's exports are expected to continue to grow steadily in the coming months.

In terms of imports, the import volume of energy products and mineral products increased by 6.3% and 4.3% respectively; the import value of aircraft parts and electronic components increased by 13.7% and 10.5% respectively. Guo Hanbing, a postdoctoral researcher at the Institute of Finance of the Chinese Academy of Social Sciences, told Ta Kung Pao that container exports achieved a surge of 108.7%. This significant growth, on the one hand, demonstrates the important position and strength of "Made in China" in the key links of the global trade chain; on the other hand, it is also due to the fact that some companies have predicted the uncertainty of the future market, so they have adopted the strategy of early layout.

Looking forward, against the background of tariff effects and the improvement of China's foreign trade competitiveness, China's export growth rate is expected to maintain steady growth in the coming months. In terms of imports, the series of incremental policies recently introduced have significantly boosted market expectations. Combined with the continued release of the effects of stock policies, the recovery momentum of consumption, real estate and investment is expected to be further enhanced, and China's import demand is expected to improve in the future.

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