The latest data released by the China General Administration of Customs on the 7th showed that China’s foreign trade imports and exports reached 2.47 trillion yuan (RMB, the same below) in May, a year-on-year decrease of 4.9%, and the decrease was 4.2 percentage points higher than that in April. Among them, exports increased by 1.4%, a significant decline from the growth rate of 8.2% last month; imports fell by 12.7%; trade surplus was 442.75 billion yuan, an increase of 60.6%.

China’s foreign trade imports and exports in May were USD 350.7 billion, down 9.3%; of which, exports were USD 206.81 billion, down 3.3%; imports were USD 143.89 billion, down 16.7%; trade surplus was USD 62.93 billion, up 52.9%.

 

In the first 5 months, the total value of China’s imports and exports of goods trade decreased by 4.9% year-on-year, which was the same as the previous 4 months. Among them, exports fell by 4.7%; imports fell by 5.2%; trade surplus was 859.81 billion yuan, a decrease of 1.2%.

 

In terms of countries, ASEAN continues to maintain China’s largest trading partner status. In the first five months, the bilateral trade volume between China and ASEAN increased by 4.2% year-on-year. The trade volume between China and Europe, China and the United States, and China and Japan were lower than the same period last year, of which the trade volume between China and the United States fell the most year-on-year, reaching 9.8%.

 

In terms of products, China’s textile exports, including masks, surged by 25.5% in the first five months; plastic products exports also increased by 2.1%. Exports of furniture, clothing, shoes, boots, toys, etc. are all declining.