GACC: China's 2023 foreign trade value up 0.2% YoY
Within the total, the country's exports volume edged up 0.6% on year to Yuan 23.77 trillion, while its imports dipped 0.3% on year to Yuan 17.99 trillion, the new statistics show.
For December alone, China's foreign trade value amounted to Yuan 3.81 trillion, rising by 2.8% both on year and on month, the GACC data showed. Of that, the value of exports stood at Yuan 2.18 trillion, rising by 3.8% from the prior-year level and up 3.5% compared to November, and the value of imports also grew 1.6% on year and 2% on month to Yuan 1.63 trillion.
During 2023, China saw its foreign trade value with Belt and Road Initiative countries reach Yuan 19.47 trillion, higher by 2.8% on year and accounting for 46.6% of the total trade value, according to the release.
In tandem, China's trade value with Latin America and Africa came in at Yuan 3.44 trillion and Yuan 1.98 trillion, swelling by 6.8% and 7.1% on year, respectively, the data found.
Business entities in China involved in foreign trade first exceeded 600,000 last year, among which 556,000 privately-owned enterprises contributed Yuan 22.36 trillion, rising by 6.3% on year, with the value accounting for 53.5% of the total, up 3.1 percentage points from the previous year's level.
As for products China exported in 2023, the machinery, electrical and electronics products dominated with a combined value of Yuan 13.92 trillion, growing by 2.9% on year and making up for 58.6% of the total exports, the Customs data showed. In particular, China shipped abroad electric vehicles, lithium-ion batteries and solar cells totaling Yuan 1.06 trillion, leaping by 29.9% on year.
On the other hand, the number of pilot free trade zones across China has been expanded to 22 last year, with the trade value adding up to Yuan 7.67 trillion, higher by 2.7% on year. Meanwhile, the exports and imports value of the country's cross-border e-commerce jumped by 15.6% on year to Yuan 2.38 trillion.
Written by Rong Zhang, zhangronga@mysteel.com
Edited by Alyssa Ren, rentingting@mysteel.com
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