2020 Annual Import and Export Situation of China


China has become the only major economy in the world that has achieved positive economic growth. Its foreign trade imports and exports have been significantly better than expected, and the scale of foreign trade has reached a record high. According to customs statistics, in 2020, the total value of my country’s import and export of goods trade was RMB 32.16 trillion, an increase of 1.9% over 2019. Among them, exports were 17.93 trillion yuan, an increase of 4%; imports were 14.23 trillion yuan, a decrease of 0.7%; the trade surplus was 3.7 trillion yuan, an increase of 27.4%.

 

According to data published by the WTO and other countries, in the first 10 months of 2020, China’s international market share of imports and exports, exports, and imports reached 12.8%, 14.2%, and 11.5%, respectively. The vitality of foreign trade entities continued to increase. In 2020, there will be 531,000 import and export enterprises, an increase of 6.2%. Among them, the import and export of private enterprises was 14.98 trillion yuan, an increase of 11.1%, accounting for 46.6% of my country’s total foreign trade value, an increase of 3.9 percentage points from 2019. The position of the largest foreign trade subject has been consolidated, and it has become an important force in stabilizing foreign trade. The import and export of foreign-invested enterprises was 12.44 trillion yuan, accounting for 38.7%. State-owned enterprises import and export 4.61 trillion yuan, accounting for 14.3%. Trading partners are becoming more diversified. In 2020, my country’s top five trading partners will be ASEAN, EU, United States, Japan and South Korea in order. Imports and exports to these trading partners will be 4.74, 4.5, 4.06, 2.2 and 1.97 trillion yuan, an increase of 7%, 5.3%, and 8.8 respectively. %, 1.2% and 0.7%. In addition, my country’s imports and exports to countries along the “Belt and Road” were 9.37 trillion yuan, an increase of 1%. Trade methods are more optimized. In 2020, my country’s general trade import and export was 19.25 trillion yuan, an increase of 3.4%, accounting for 59.9% of my country’s total foreign trade value, an increase of 0.9 percentage points from 2019. Among them, exports were 10.65 trillion yuan, an increase of 6.9%; imports were 8.6 trillion yuan, a decrease of 0.7%. The import and export of processing trade was 7.64 trillion yuan, down 3.9%, accounting for 23.8%. The export of traditional products continued to grow. In 2020, my country’s export of mechanical and electrical products was 10.66 trillion yuan, an increase of 6%, accounting for 59.4% of the total export value, a year-on-year increase of 1.1 percentage points. Among them, the export of notebook computers, household appliances, medical instruments and equipment increased by 20.4%, 24.2%, and 41.5% respectively. In the same period, the export of seven categories of labor-intensive products such as textiles and garments was 3.58 trillion yuan, an increase of 6.2%, of which textile exports including masks were 1.07 trillion yuan, an increase of 30.4%.