Business
2018.10.12 16:00 GMT+8

China's foreign trade up 9.9% in the first three quarters

CGTN

China posted a record trade volume of 22.28 trillion yuan in the first three quarters of 2018, up 9.9 percent compared to the previous year, Chinese customs data showed on Friday.

Exports rose 6.5 percent year-on-year in the January-September period to 11.86 trillion yuan, while imports grew 14.1 percent to 10.42 trillion yuan, resulting in a trade surplus of 1.44 trillion yuan, which narrowed by 28.3 percent, according to the General Administration of Customs (GAC).

The country saw an increase of commodities imports in terms of volume and quotation.  

For January-September, foreign shipments of crude oil and natural gas hit 336 million tons and 64.78 million tons, ticking up 5.9 percent and 34 percent, respectively.

The country's trade volume with major trading partners has also experienced an increase in the first three quarters. 

Trade with the European Union, its largest trading partner, climbed 7.3 percent, while trade with the US and ASEAN countries increased by 6.5 percent and 12.6 percent, respectively.  

Trade with countries along the Belt and Road routes totaled 5.31 trillion yuan, up 12 percent year-on-year, 2.9 percentage points faster than the average growth rate, data showed.

"The encouraging performance of China's foreign trade during the first three quarters laid a solid foundation for the whole year from the trade perspective, and the trade growth was driven by private companies and diversified trade channels with emerging economies, in particular those along the Belt and Road Initiative such as Russia and Poland." said Li Kuiwen, a spokesman for GAC.  

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