Foreign Trade in Goods Up 10.1 percent in First Eight Months

China’s foreign trade in goods jumped 10.1 percent year on year to RMB 27.3 trillion (about US $3.95 trillion) during the first eight months of the year.

Exports rose 14.2 percent year on year to RMB 15.48 trillion, while imports increased 5.2 percent from a year ago to RMB 11.82 trillion, according to the General Administration of Customs.

From January to August, China’s trade with its top three trading partners — the Association of Southeast Asian Nations, the European Union, and the United States — grew 14 percent, 9.5 percent, and 10.1 percent, respectively.

China’s trade with Belt and Road countries soared 20.2 percent year on year to RMB 8.77 trillion.

Exports of mechanical and electrical products expanded by

9.8 percent to account for 56.5 percent of the total, and exports of labor-intensive products jumped 14.1 percent from a year ago.

Private enterprises saw imports and exports increase 14.9 percent from a year ago to RMB 13.68 trillion in the first eight months, accounting for 50.1 percent of the country’s total.