China: Q1 sees strong import and export increases
The General Administration of Customs in China has reported that foreign trade imports and exports achieved a “good start” during the first quarter of 2021, according to local media.
Whereas exports increased by 38.7% year on year, imports rose 19.3% over the same period last year, apparently representing an increase of nearly seven times over.
Imports and exports with major trading partners such as the United States, Japan, the European Union and the Association of South-East Asian Nations (ASEAN) countries markedly increased over the period. Gross value of trade was up 61.3%, 20.8%, 36.4% and 26.1%, respectively.
Trade with China’s fourteen Regional Comprehensive Economic Partnership (RCEP) partners was up 22.9%, in terms of gross value, as were China-centric imports and exports among the Belt and Road countries (rising 21.4%).
The ASEAN collective remains China’s most significant trading partner.
