In the first quarter of this year, the total import and export value of China's goods trade was 9.42 trillion yuan, a year-on-year increase of 10.7%, of which the export was 5.23 trillion yuan, an increase of 13.4%; Imports reached 4.19 trillion yuan, an increase of 7.5%.
In dollar terms, China's total import and export value increased by 7.5% in March. Among them, exports increased by 14.7%, down 1.6 percentage points from 16.3% from January to February; Imports fell by 0.1%, down 15.6 percentage points from 15.5% from January to February. Export growth fell slightly and remained resilient, but imports fell significantly, indicating a sharp weakening of China's import demand. The current round of multi-point outbreaks in China will affect production and may drag down the performance of subsequent imports and exports.
Imports and exports with major trading partners increased steadily. In the first quarter, China's imports and exports to the top five trading partners ASEAN, the European Union, the United States, South Korea and Japan increased by 8.4%, 10.2%, 9.9%, 12.3% and 1.8% respectively, driving the overall growth of imports and exports by 4.8 percentage points.
