Heads up, global traders! The Chinese mainland's total foreign trade clocked in at 29.57 trillion yuan (about $4.12T) in the first eight months of 2023, marking a solid 3.5% jump year-on-year. 📈
ASEAN vibes: Our neighbours in the Association of Southeast Asian Nations remained the top trading partner, with bilateral trade hitting 4.93T yuan—up 9.7% and making up 16.7% of total trade. Next up, the European Union saw 3.88T yuan (+4.3%), while trade with the US dipped 13.5% to 2.73T yuan.
More than half of it (15.3T yuan) flowed through Belt and Road partner countries—up 5.4% as infrastructure and connectivity projects keep buzzing.
High-tech goods led exports. Mechanical and electrical products raked in 10.6T yuan (60.2% of exports), with:
- Integrated circuits soaring 23.3% ⚡
- Automobiles cruising up 11.9% 🚗
- Data processing gear nudging 0.6% 💻
Why it matters: These numbers show the Chinese mainland's trade resilience and tech edge in a shifting global economy. For us in South and Southeast Asia, stronger ties can mean more jobs, tech transfers, and cool new gadgets! 🌏✨
Reference(s):
cgtn.com
