BEIJING (Pakistan Point News / Sputnik - 07th November, 2022) China's exports and imports have increased by 11.1% and 3.5%, respectively, in the ten month starting January 2022 despite COVID-19 outbreaks and a difficult international situation, the data published by the Chinese General Administration of Customs showed on Monday.
Chinese exports jumped by 11.1% year-on-year and amounted to $2.99 trillion, while imports increased by 3.5% to $2.26 trillion, the data showed.
China's total foreign trade increased by 7.7% to $5.3 trillion, with $727.7 billion in balance, according to the customs.
China's top trade partners in January-October were the Association of Southeast Asian Nations ($798.5 billion), the European Union ($711.3 billion) and the United States ($639.8) billion. Trade with Latin American countries totaled $409.7 billion and trade with African countries $236.5 billion.
In 2021, China's foreign trade rose by 30% and reached $6 trillion, while exports increased by 29.9% to $3.4 trillion and imports increased by 30.1% to $2.7 trillion.
China downsized imports of oil by 2.7% and natural gas by 10.4% in January-October 2022 compared with the same period last year. It imported 413.5 million tonnes of oil, spending $302.7 billion, which is 46.6% more spending year-on-year. Gas imports totaled 88.7 million tonnes and cost $55.2 billion, with a 39.6% increase in spending compared with January-October 2021.
China's coal imports from the beginning of 2022 have decreased by 10.5% to 230 million tonnes and cost it $34 billion, which is a 37.3% rise in spending compared with January-October 2021.
In 2021, China imported 512.9 million tonnes of oil, 121.4 million tonnes of natural gas and 323.2 million tonnes of coal.
