China’s foreign trade up 8.3 percent in first five months of 2022

China’s imports and exports totaled 16.04 trillion yuan ($2.4 trillion) during the first five months of 2022, growing by 8.3 percent year-on-year, according to the General Administration of Customs on Wednesday.

Among that, exports grew by 11.4 percent on a yearly basis to 8.94 trillion yuan ($1.34 billion), while imports increased by 4.7 percent from last year to 7.1 trillion yuan ($1.06 billion).

The nation’s trade value with the Association of Southeast Asian Nations, the European Union, the United States, and South Korea were respectively 2.37 trillion yuan ($354.1 billion), 2.2 trillion yuan ($328.7 billion), 2 trillion yuan ($298.9 million) and 970.71 billion yuan ($145 billion).

Those trade values have increased by 8.1 percent, 7 percent, 10.1 percent, and 8.2 percent year-on-year, respectively.

ASEAN states remain the largest trading partners for China, accounting for 14.8 percent of the nation’s total foreign trade.

This report’s information was first seen on ChinaDaily; to read more, click this link.