China’s exports and imports totaled US$4.16 trillion in 2013, up 7.6% year-on-year. The growth rate is 1.4 percentage points higher than 2012, according to data release by China’s General Administration of Customs.
This is the first time that China’s foreign trade topped the US$4 trillion mark.
China’s exports hit US$2.21 trillion in the year, up 7.9%. Imports reached US$1.95 trillion, increasing 7.3%.
China recorded a trade surplus of US$259.8 billion, up 12.8%.
The European Union, the United States, the Association of Southeast Asian Nations (ASEAN), Hong Kong and Japan are China’s top five trading partners.
China’s bilateral trade with the E.U. and the U.S. grew 2.1% and 7.5% respectively. It’s trade with the ASEAN and Hong Kong each grew 10.9% and 17.5%. Trade with Japan declined 5.1%.
China’s imports of consumer products increased 24.6%, and China’s imports of crude oil grew 4% to 280 million tons.
In December 2013, China’s exports grew 4.3%, significantly lower than November’s growth rate of 12.7%. This is due to artificially high export values in December 2012.
Imports in December grew 8.8%, beating market expectations.