The Belt and Road

China’s foreign trade with Belt and Road countries up 9.1 percent in first four months

China’s foreign trade of goods climbed 4.3 percent year on year in the first four months of this year to 9.51 trillion yuan (about 1.41 trillion U.S. dollars), customs data showed Wednesday.

Exports increased by 5.7 percent year on year to 5.06 trillion yuan during this period, while imports went up by 2.9 percent to 4.45 trillion yuan, the General Administration of Customs (GAC) said.

Trade surplus rose by 31.8 percent to 618.17 billion yuan during this period.

April trade expanded by 6.5 percent to reach 2.51 trillion yuan. Exports grew by 3.1 percent in yuan terms last month, while imports jumped by 10.3 percent, GAC data showed.

Trade surplus stood at 93.57 billion yuan in April, shrinking by 43.8 percent year on year.

General trade grew faster than processing trade during the Jan.-April period, which also saw an increasing share in China’s total trade volume.

Exports of mechanical and electrical products, as well as labor-intensive products such as textile and furniture, maintained growth in the first four months of this year.

The European Union was China’s largest trading partner during this period, followed by the ASEAN, the United States and Japan.

Trade with Belt and Road countries totaled 2.73 trillion yuan, up 9.1 percent year on year, more than doubling the overall pace.

China’s private firms reported faster trade growth, expanding at 11 percent year on year to reach 3.9 trillion yuan during this period, GAC data showed.

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