China’s foreign trade has demonstrated robust growth over the first eight months of this year, with the total value of imports and exports of goods reaching 34.78 trillion yuan, equivalent to $5.18 trillion. This marks a significant 17.6% increase compared to the same period last year. Exports have climbed by 14.6%, totaling 20.17 trillion yuan, whereas imports have seen a notable rise of 22%, amounting to 14.61 trillion yuan.
The momentum in trade growth gained further traction in August, where the total value of goods traded—encompassing both imports and exports—rose to 4.65 trillion yuan, marking a 19.8% year-on-year surge. Within this, exports experienced an 18.6% increase, while imports jumped by 21.7%.
For four consecutive months, both exports and imports have enjoyed double-digit growth on a year-on-year basis. However, a noteworthy trend is that import growth has outpaced export growth for the last six months, indicating a sustained demand for foreign goods within China.