China’s total goods imports and exports expanded 6.2% year-on-year in the first seven months of 2024 to 24.83 trillion yuan ($3.46 trillion), official data showed on Wednesday.

The country’s exports rose 6.7% year-on-year to 14.26 trillion yuan during the period, while imports climbed 5.4% to 10.57 trillion yuan, according to the Chinese General Administration of Customs.

In terms of individual economies, ASEAN remained China’s largest trading partner during the first seven months, with bilateral trade increasing by 10.5% year-on-year to hit 3.92 trillion yuan, accounting 15.8% of China’s total foreign trade volume.

The EU and the US were China’s second and third largest trading partners, respectively. China’s trade with EU grew 0.4% in the January-July period. Meanwhile, China’s trade with the US increased 4.1% in the first seven months.

China’s exports of electromechanical products in the first seven months totaled 8.41 trillion yuan, up 8.3% and accounted for 59% of the country’s total exports, accordi
ng to customs data. (QNA)

Source: Qatar News Agency