China’s international trade grows 1.9% year-on-year in 2020

This content was published on January 14, 2021 – 05:24

Beijing, Jan 14 (EFE) .- China‘s trade with the rest of the world increased by 1.9% year-on-year in 2020, according to data published today by the General Administration of Customs, reaching 32.15 trillion yuan (4.96 trillion dollars or 4.09 trillion euros).

Official statistics show that exports grew 4% year-on-year over the past year, to 17.93 trillion yuan (2.77 trillion dollars, 2.28 trillion euros).

For their part, imports fell 0.7% year-on-year in 2020, to 14.22 trillion yuan (2.19 million dollars or 1.8 trillion euros.

Thus, the trade surplus was 3.7 trillion yuan (573,196 million dollars, 471,961 million euros) in 2020, which is 26.7% more than the 2019 data.

In the breakdown by region, trade with the European Union (EU) increased by 5.3% in 2020, while those with the United States rose by 8.8% during the same period.

For its part, with China‘s main trading partner, the National Association of Southeast Asia (ASEAN), they grew by 7%.

In December, Chinese international trade expanded by 5.9% year-on-year, amounting to 3.2 trillion yuan (494,450 million dollars or 407,238 million euros).

During that same month, exports were up 10.9%, while imports were down 0.2%.

The General Administration of Customs highlighted today that, during the first 10 months of 2020, China‘s trade with the rest of the world accounted for 12.8% of the world total, while exports reached 14.2% in that period .

These would be all-time highs for China, according to the agency, which cites data from its own preparation and from the World Trade Organization. EFE

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