According to Chinese Customs statistics, China's total import and export value in May was 2.59 trillion yuan (RMB, the same below, S$51 million), an increase of 2.9%, of which export increased by 7.7%, import decreased by 2.5%, and trade surplus expanded by 89.8%.
In the first five months of this year, China's total import and export value of goods trade was 12.1 trillion yuan, an increase of 4.1% over the same period last year (the same below). Among them, exports increased by 6.5 trillion yuan, imports by 5.6 trillion yuan, an increase of 1.8%, and trade surplus by 89.33 billion yuan, an increase of 45%.
In dollar terms, China's total import and export value dropped by 1.6% in the first five months to $1.79 trillion. Among them, $958.34 billion in exports, an increase of 0.4%, $827.87 billion in imports, a decrease of 3.7%, and $130.47 billion in trade surplus, an increase of 38.3%.
In May, China's total import and export value was 386.03 billion US dollars, down 3.4%. Among them, $213.84 billion in exports, an increase of 1.1%, $1721.19 billion in imports, a decrease of 8.5%, and a trade surplus of $41.65 billion, an increase of 77.9%.
China Customs pointed out that in the first 5 months, China's growth in imports and exports to major markets such as the EU, ASEAN and Japan was higher than that of the whole country. The EU is China's largest trading partner. The total value of trade between China and Europe increased by 11.7%, accounting for 15.7% of the total value of foreign trade. The United States is China's third largest trading partner, but the total value of Sino-US trade declined by 9.6%.
In addition, China's crude oil and natural gas imports increased in the first five months, soybean imports decreased, and the average price of commodity imports rose and fell.