China's Import and Export Value Up 7.1% in August 2013

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Researched by Industrial Info Resources China (Beijing, China)--China's import and export value reached $352.7 billion for August 2013, an increase of 7.1% when compared with August 2012. The export value was $190.61 billion, which is an increase of 7.2%, and the import value hit $162.09 billion, an increase of 7%. On September 8, the General Customs Administration of China (GCAC) announced that the August 2013 surplus was $28.52 billion.

General trade in China reached $192.3 billion, an increase of 12.3% from the previous August, accounting for 54.5% of the total. The export value reached $97.49 billion, which is an increase of 10.3%, and the import value reached $94.81 billion, up 14.4% from the preceding year. Surplus under general trade reached $2.68 billion. Simultaneously, the import and export value of processing trade in China reached $114.37 billion, an increase of 1.7%, and the surplus under processing trade expanded to $31.67 billion.

As of August 2013, the European Union remains the first trade partner with China, and their bilateral trade value reached $51.03 billion, an increase of 3.2%. The United States and ASEAN trade values reached $45.4 billion and $36.58 billion, an increase of 9.2% and 13.3%, respectively. The trade value between the Chinese mainland and Hong Kong reached $31.82 billion, an increase of 5.8%. Japan and China's bilateral trade value decreased by 6% to $26.17 billion. Russia was up 3.6%, reaching $7.74 billion.

The import of energy and resource products showed a large increase. In August 2013, China's import of iron ore reached 69.01 million metric tons, an increase of 10.6%, while the average import price is $118.8 per ton, a drop of 7.7% from the preceding year. Crude oil imports reached 21.43 million metric tons, a product increase of 16.5%, while the average import price is $765.8 per ton, an increase of 3.4%.

The accumulative import and export values of China saw an 8.3% increase from January to August 2013, reaching $2.7 trillion, about $1.43 trillion of which was in exports alone, an increase of 9.2% from the previous year. The import value reached $128 trillion, an increase of 7.3% from the previous year. The total import/export surplus reached $154.21 billion.

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