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09 May 2025
China's Goods Trade Grows 2.4% in First Four Months of 2025
Keywords
According to data released by China Customs, the total value of China's goods trade in the first four months of 2025 reached RMB 14.14 trillion, an increase of 2.4% year-on-year (YoY). Exports amounted to RMB 8.39 trillion, up 7.5%, while imports totaled RMB 5.75 trillion, down 4.2%.
In April alone, the total value of China's goods trade stood at RMB 3.84 trillion, representing a 5.6% YoY increase. Exports reached RMB 2.27 trillion, up 9.3%, and imports came in at RMB 1.57 trillion, growing 0.8%.
Key Highlights of China's Foreign Trade from January to April 2025
1. Growth in General and Processing Trade
From January to April 2025, China's general trade volume reached RMB 9.05 trillion, rising 0.6% and accounting for 64% of total foreign trade. Of this, exports were RMB 5.53 trillion, up 7.3%, while imports were RMB 3.52 trillion, down 8.4%.
Processing trade totaled RMB 2.54 trillion, an increase of 6.6%, making up 18% of total trade. Exports under this category amounted to RMB 1.58 trillion, up 5.5%, while imports hit RMB 960.57 billion, growing 8.4%.
Trade via bonded logistics grew 7% to RMB 2.04 trillion. This includes exports of RMB 847.48 billion, up 17.7%, and imports of RMB 1.19 trillion, up 0.6%.
2. Trade with ASEAN and EU Expanded
ASEAN remained China's largest trading partner, with bilateral trade totaling RMB 2.38 trillion, up 9.2% and accounting for 16.8% of China's total foreign trade. Exports to ASEAN rose 12.6% to RMB 1.48 trillion, and imports from ASEAN increased 4% to RMB 895.17 billion.
The European Union (EU) ranked as China's second-largest trading partner, with total trade amounting to RMB 1.78 trillion, up 1.1% and representing 12.6% of overall trade. Exports to the EU rose 6.1% to RMB 1.21 trillion, while imports fell 8.1% to RMB 563.59 billion.
The United States was China's third-largest trading partner, with bilateral trade down 2.1% to RMB 1.44 trillion, accounting for 10.2% of total trade. Exports to the U.S. declined 1.5% to RMB 1.07 trillion, and imports dropped 3.7% to RMB 369.95 billion.
During the same period, China's total trade with Belt and Road Initiative (BRI) partner countries amounted to RMB 7.25 trillion, up 3.9%. Exports surged 9.6% to RMB 4.15 trillion, while imports fell 2.8% to RMB 3.1 trillion.
3. Private Enterprises Gain Larger Share of Trade
In the first four months of 2025, private enterprises recorded RMB 8.05 trillion in imports and exports, a 6.8% increase YoY, accounting for 56.9% of China's total trade - 2.3 percentage points higher than the same period last year.
Private sector exports reached RMB 5.47 trillion, up 8.1% and accounting for 65.1% of China's total exports. Imports grew 4.2% to RMB 2.58 trillion, accounting for 45% of total imports.
Foreign-invested enterprises posted RMB 4.1 trillion in trade, up 1.9% and representing 29% of total foreign trade. This includes exports of RMB 2.28 trillion, up 6.1%, and imports of RMB 1.82 trillion, down 3%.
State-owned enterprises (SOEs) recorded a total trade volume of RMB 1.96 trillion, down 11.3%, making up 13.9% of national trade. Exports from SOEs increased 7.3% to RMB 640.6 billion, while imports declined 18.2% to RMB 1.32 trillion.
4. Electromechanical Products Drive Export Growth
Exports of electromechanical products totaled RMB 5.04 trillion, a 9.5% increase YoY, accounting for 60.1% of total exports.
Key categories included:
1) Automatic data processing equipment and components: RMB 458.71 billion, up 5.6%
2) Integrated circuits: RMB 405.15 billion, up 14.7%
3) Automobiles: RMB 264.98 billion, up 4%
1) Automatic data processing equipment and components: RMB 458.71 billion, up 5.6%
2) Integrated circuits: RMB 405.15 billion, up 14.7%
3) Automobiles: RMB 264.98 billion, up 4%
Exports of labor-intensive products declined 1.6% to RMB 1.3 trillion, accounting for 15.4% of exports. Within this category, textile exports rose 4.9% to RMB 329.17 billion.
Agricultural product exports grew 6.1% to RMB 235.57 billion.
5. Prices of Key Commodities Fell; Imports of Electromechanical Products Rose
In the first four months of 2025, prices of major bulk commodity imports fell across the board:
1) Iron ore: 388 million tons, down 5.5%; average price RMB 710.4/ton, down 17.8%
2) Crude oil: 183 million tons, up 0.5%; average price RMB 3,936.7/ton, down 8%
3) Coal: 153 million tons, down 5.3%; average price RMB 569.6/ton, down 22.2%
4) Natural gas: 38.99 million tons, down 9.2%; average price RMB 3,318.3/ton, down 6.1%
5) Soybeans: 23.19 million tons, down 14.6%; average price RMB 3,283.2/ton, down 15%
6) Refined oil: 12.922 million tons, down 25.6%; average price RMB 4,381.8/ton, up 1.6%
1) Iron ore: 388 million tons, down 5.5%; average price RMB 710.4/ton, down 17.8%
2) Crude oil: 183 million tons, up 0.5%; average price RMB 3,936.7/ton, down 8%
3) Coal: 153 million tons, down 5.3%; average price RMB 569.6/ton, down 22.2%
4) Natural gas: 38.99 million tons, down 9.2%; average price RMB 3,318.3/ton, down 6.1%
5) Soybeans: 23.19 million tons, down 14.6%; average price RMB 3,283.2/ton, down 15%
6) Refined oil: 12.922 million tons, down 25.6%; average price RMB 4,381.8/ton, up 1.6%
Other imports included:
1) Primary plastic forms: 9.525 million tons, down 1.1%; average price RMB 10,500/ton, down 0.5%
2) Unwrought copper and copper materials: 1.742 million tons, down 3.9%; average price RMB 69,000/ton, up 8.5%
1) Primary plastic forms: 9.525 million tons, down 1.1%; average price RMB 10,500/ton, down 0.5%
2) Unwrought copper and copper materials: 1.742 million tons, down 3.9%; average price RMB 69,000/ton, up 8.5%
Meanwhile, imports of electromechanical products reached RMB 2.23 trillion, marking a 5.7% increase YoY.
Source: China Customs
Source: China Customs
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