According to the General Administration of Customs of the PRC, China’s total foreign trade has decreased by 2.9% to $1.43 trillion in the first quarter. Total exports from China have increased by 0.5%, reaching $821.83 billion. The imports have decreased by 7.1%, amounting to $617.12 billion.
The trade with the USA has dropped by 13.1%, amounting to $161.59 billion. Beijing has exported $115.23 billion worth of products (-17%) to the USA. Meanwhile, the imports from the USA have decreased by 1.7%, reaching $46.35 billion.
The commodity turnover between China and Russia has amounted to $53.84 billion, which is 38.7% more than over the same period in 2022. The exports from the PRC to the Russian Federation has reached $24.07 billion, which is 47.1% more than a year earlier. The imports from Russia have increased up to $29.77 billion (+32.6%).