China-SCO Trade August 2022

According to the latest data from the General Administration of Customs, China's trade with other members of the Shanghai Cooperation Organization (SCO) has grown rapidly in the first months of 2022. The value of trade rose 26 percent from January-August to RMB 1.73 trillion (about USD 250 billion). The growth rate was 15.9 percentage points higher than that of China's total foreign trade.

The percentage of Chinese exports to other members of the SCO increased 0.8 percentage points from a year ago to 6.3 percent.

In August alone, the trade volume hit a record high of RMB 256.79 billion, up 28.9 percent year on year.

A breakdown of the first eight months shows that China imported 117 million tonnes of crude oil, coal, and natural gas from other SCO members, with the combined value accounting for 56.9 percent of the total imports from these countries. Meanwhile, agricultural imports accounted for 7.5 percent.

In terms of exports, China's mechanical and electrical goods, labor-intensive products, and basic organic chemicals accounted for 52.6 percent, 19.1 percent, and 5.9 percent of the total exports to other SCO members, respectively.

The Shanghai Cooperation Organization (SCO) was founded in 2001 and currently comprises eight full members, China, Russia, Kazakhstan, Tajikistan, Kyrgyzstan, India, Pakistan, and Uzbekistan. Four countries are observers, and there are several dialogue partners as well.