China’s Exports increase by 11.1%, imports by 3.5%

China’s exports and imports have increased by 11.1per cent and 3.5per cent, respectively, in the ten month starting January 2022 despite Covid-19 outbreaks and a difficult international situation, the data published by the Chinese General Administration of Customs showed on Monday.

Chinese exports jumped by 11.1per cent year-on-year and amounted to $2.99 trillion, while imports increased by 3.5per cent to $2.26 trillion, the data showed. China’s total foreign trade increased by 7.7per cent to $5.3 trillion, with $727.7 billion in balance, according to the customs.

China’s top trade partners in January-October were the Association of Southeast Asian Nations ($798.5 billion), the European Union ($711.3 billion) and the United States ($639.8) billion. Trade with Latin American countries totaled $409.7 billion and trade with African countries $236.5 billion.

In 2021, China’s foreign trade rose by 30per cent and reached $6 trillion, while exports increased by 29.9per cent to $3.4 trillion and imports increased by 30.1per cent to $2.7 trillion.

China’s coal imports from the beginning of 2022 have decreased by 10.5per cent to 230 million tonnes and cost it $34 billion, which is a 37.3per cent rise in spending compared with January-October 2021.