Summary of China's Foreign Trade (Import and Export Trade)

publish:2023-03-17 14:02:16   views :240
publish:2023-03-17 14:02:16  

In 2022, the total import and export volume was 6.31 trillion US dollars, an increase of 4.4%. It accounts for 19.7%, or about 20%, of the global $32 trillion, and has become a major trading partner for more than 140 countries and regions, ranking second in the world in total trade volume (the first is the United States, with about 3 exports and about 4 imports, totaling $7 trillion).

At the beginning and end of 2022, the foreign trade situation was very bad, and now it is recovering; (The total global trade volume rose from 28.5 to 32 trillion US dollars, temporarily showing weak growth under the strong interest rate hike of the US dollar.)

Exports reached approximately 3.6 trillion US dollars, up 7%;

Import was about 2.7 trillion US dollars, up 1.1%;

The trade surplus was US $877.6 billion, up 30.9%.

(By the way, add: the total import and export volume of countries along the "the Belt and Road" is 13.83 trillion yuan, an increase of 19.4%, about 2 trillion dollars.

In 2022, the use of foreign capital reached US $189.13 billion, an increase of 8%, to less than US $200 billion

China's trade in goods with the ASEAN, the EU and the US last year respectively surged 15 percent, 5.6 percent and 3.7 percent to 6.52 trillion yuan, 5.65 trillion yuan and 5.05 trillion yuan.

The first trading partner is still ASEAN, with about $900 billion and the fastest growth rate,+15% (the Belt and Road Initiative is growing faster, nearly 20%)

The second trading partner is the EU, with an estimated $800 billion, up+5.6% year-on-year

The third trading partner is the US dollar, which is about 700 billion US dollars (specifically 6906),+3.7%

According to the BEA data,

Total imports and exports grew 2.5 percent year-on-year to reach US$690.6 billion,

US imports of goods from China grew by 6.3 percent year-on-year to reach US$536.8 billion.

US exports to China grew by 1.5 percent year-on-year to reach US$153.8 billion.

The US trade deficit with China also expanded by 8.3 percent year-on-year to reach US$382.9 billion in 2022.

The largest surplus comes from the United States, accounting for about 44% of China's total surplus (3830/8780)

The total import and export volume with the United States is approximately 690 billion US dollars,

Exports to the United States increased by+6.3% to approximately $530 billion,

Imports of products from the United States increased by+1.5% to approximately $150 billion.

The deficit with the United States continued to grow by+8.3%, reaching approximately $383 billion (although in decoupling, it is still growing due to the temporary high inflation in the United States and the strong cost performance of Chinese products, which are clearly highly complementary to each other, as the human nature of one mountain brooks no two tigers and is tearing apart each other).

(China is the largest importer and third largest trading country of the United States, ranking behind Canada and Mexico. In 2002, the US trade deficit significantly increased, with exports increasing by 17.7% to $3.01 trillion compared to the previous year, and imports increasing by 16.3% to $3.96 trillion. Among them, the trade deficit in goods increased by 9.3% to $1.19 trillion, while the trade surplus in services decreased by 0.6% to $243.7 billion.)


From January to December 2022, the import and export volume with Southeast Asian Association countries (including Brunei, Myanmar, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand, and Vietnam) was 6515322 million yuan, a year-on-year increase of 15%, with the highest growth among all trading partners.

Export reached 3790.652 billion yuan, up 21.7% year-on-year,

Import reached 2724.67 billion yuan, up 6.8% year-on-year.

The surplus is about 1 trillion yuan, about 150 billion US dollars (exchange rate of 6.8 US dollars)

With the EU:

From January to December 2022, The import and export volume with European Union countries (including Belgium, Denmark, Germany, France, Ireland, Italy, Luxembourg, the Netherlands, Greece, Portugal, Spain, Austria, Finland, Sweden, Cyprus, Hungary, Malta, Poland, Estonia, Latvia, Lithuania, Slovenia, the Czech Republic, Slovakia, Bulgaria, Romania, Croatia) is 5646.798 billion yuan, With a year-on-year growth of 5.6%, exports reached 3743.441 billion yuan, an increase of 11.9%,

Import reached 1903.357 billion yuan, a year-on-year decrease of 4.9%.

The surplus is about 2.84 trillion yuan, about 420 billion US dollars (at the exchange rate of 6.8 US dollars), surpassing the US $383 billion.

To add a trend, the United States has moved factories to Mexico, while rapidly increasing trade with Mexico and Canada. Europe has also moved factories to Eastern Europe. RCEP has been established near China, and the prototype of the Three Kingdoms Movement has emerged.



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