China's Export Growth Exceeds Expectations
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The Chinese Administration of Customs reports an overall increase in trade numbers from January through October 2021; 32.3% in exports and 31.4% in imports.
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China's export growth exceeds expectations in comparison to last year's
In comparison to last year, China’s exports went up 32.3% in January-October of 2021, amounting to $2.7 trillion, the Chinese General Administration of Customs reported.
China’s imports also increased by 31.4%, up to $2.19 trillion, during the first ten months of this year.
China's exports, imports
From January through October, China imported 7.2% less oil compared to the same period in 2020, however, its imports of natural gas increased by 22.3%.
China’s overall foreign trade volume went up 31.9% in January-October, reaching $4.89 trillion. In 2020, China’s foreign trade increased by 1.5%, amounting to $4.65 trillion.
In October, China's exports growth exceeded expectations, despite global supply chain problems, as overseas demand for its goods remained strong.
US-China trade
Trade between the US and China increased 33.4% compared to the same period last year, the Chinese General Administration of Customs reported.
The US-China trade amounted to $609.939 billion during the first ten months of 2021.
China’s exports to the US increased by 31.7%, amounting to $465.305 billion, while the US exports to China increased 39% and amounted to $144.634 billion.
In October, US-China trade stood at $66.794 billion.
Last year, the US-China trade increased to 8.3% and was stable at $586 billion, despite the pandemic and trade disputes.
Russia-China trade
According to the Administration, trade between Russia and China increased by 30.9% in the first ten months of this year compared to the same period last year.
Russia-China trade in January through October 2021 added up to $115.663 billion, surpassing last year's annual trade figure.
China’s exports to Russia increased by 30.6% in the first ten months of 2021 and equaled $52.9 billion, while Russia’s exports to China increased by 31.2%, adding up to $62.759 billion.
Last month alone, the Russian-China trade added up to $13.026 billion.
Last year, the trade turnover between the two countries decreased by 2.9%, standing at $107.7.
