China’s exports grew by 31% in 11 months

The energy crisis, as well as outbreaks of coronavirus disease, didn’t have a significant impact on China’s foreign trade. Corresponding to the country’s Customs Department, according to past 11 months of this year, China’s export volume increased by 31.1% on an annualized basis. It amounted to $3 trillion. The volume of imports increased by 31.4% to $2.4 trillion. China’s foreign trade turnover amounted to $5.4 trillion in January-November, which is 31.3% more than a year ago data. The foreign trade balance surplus amounted to $0.6 trillion. China’s main trading partners continue to be the ASEAN countries, as well as the United States and the European Union. Foreign trade turnover with ASEAN reached 789.5 billion, with the US and the EU – $682.3 and 747.6 billion, respectively. China finished last year with an increase in foreign trade turnover by 1.5%. The annual volume of exports amounted to $2.6 trillion, the volume of imports – $2.1 trillion

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Arseny Kudrin

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