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China's Trade May 2024

According to the data from China's General Administration of Customs expressed in dollars, China's international trade with the rest of the world showed the following trend in the first five months of 2024, with an increase in exports (2.7 per cent), imports (2.9 per cent), and aggregate trade (2.8 per cent).

In May alone, Chinese exports rise 7.6 per cent from a year earlier, while imports grew by 1.8 per cent, and total trade expanded 5.1 per cent.

China confirms the Association of Southeast Asian Nations (ASEAN) region as the top partner with USD 390 billion in the January-May 2024 period, followed by the European Union (USD 313 billion) and the United States (USD 263 billion).

Trade with the African countries increased by 3.4 per cent, while trade with the member countries of the ASEAN grew by 7.2 per cent, and trade with countries in the LATAM region, which includes Mexico, Central America and all of South America, expanded 7.4 per cent.

China's trade with the European Union decreased by 4.5 per cent, while that with the United States declined by 1.4 per cent.

Imports of products from the European Union to China increased from the Netherlands (31.2 per cent) and record a negative trend with France (-10.7 per cent), and with Germany (-12.9 per cent), and with Italy (-1 per cent), while the EU average was -5.6 per cent.

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