China’s foreign trade grew by 5.8 percent year on year to 13.32 trillion yuan ($1.94 trillion) in the first four months of 2023, data from the General Administration of Customs (GAC) showed.
The country’s foreign trade continued a steady and positive trend. In the first four months of 2023, the Association of Southeast Asian Nations (ASEAN) and European Union (EU) became China’s largest trade partners. As of April, China’s foreign trade with ASEAN reached 2.09 trillion yuan ($304.6 billion).
Private enterprises helped boost foreign trade in China. In the first four months, private enterprises accounted for over 50 percent of imports and exports of the country, increasing 15.8 percent year on year to 7.05 trillion yuan ($1.03 trillion).
According to GAC’s latest data, the country’s exports rose 10.6 percent on a yearly basis to 7.67 trillion yuan ($1.12 trillion), while imports edged up 0.02 percent year-on-year to 5.65 trillion yuan ($822.7 billion). In the meantime, the export of mechanical and electrical products from China reached 4.44 trillion yuan ($646.5 billion), accounting for 57.9 percent of the total foreign trade.
