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09 Jun 2025
China's Goods Trade Grows 2.5% in First Five Months of 2025
Keywords
According to data from the General Administration of Customs, China's total goods trade reached RMB 17.94 trillion in the first five months of 2025, representing a year-on-year (YoY) increase of 2.5%. Exports totaled RMB 10.67 trillion, up 7.2%, while imports fell 3.8% to RMB 7.27 trillion.
In May alone, the total value of China's imports and exports stood at RMB 3.81 trillion, up 2.7% YoY. Of this, exports reached RMB 2.28 trillion, an increase of 6.3%, while imports dropped 2.1% to RMB 1.53 trillion.
Key Features of China's Trade Performance in the First Five Months:
1. Growth in General and Processing Trade
General trade accounted for RMB 11.51 trillion, up 0.8% YoY, representing 64.2% of China's total trade. Exports under this category grew 7% to RMB 7.04 trillion, while imports declined 7.8% to RMB 4.47 trillion.
Processing trade totaled RMB 3.21 trillion, an increase of 6.2%, accounting for 17.9% of the national total. Exports reached RMB 1.99 trillion, up 4.5%, while imports rose 9.3% to RMB 1.22 trillion.
Trade via bonded logistics rose 5.9% to RMB 2.54 trillion. Exports surged 15.8% to RMB 1.05 trillion, while imports edged down 0.2% to RMB 1.49 trillion.
2. Trade with ASEAN and EU Expanded
The Association of Southeast Asian Nations (ASEAN) remained China's largest trading partner, with total trade value reaching RMB 3.02 trillion, up 9.1% and accounting for 16.8% of China's total trade. Exports to ASEAN rose 13.5% to RMB 1.9 trillion, and imports grew 2.3% to RMB 1.12 trillion.
The European Union (EU) was China's second-largest trading partner, with bilateral trade amounting to RMB 2.3 trillion, an increase of 2.9%, accounting for 12.8% of total trade. Exports to the EU rose 7.7% to RMB 1.57 trillion, while imports fell 6.1% to RMB 728.33 billion.
The United States ranked third, with bilateral trade dropping 8.1% to RMB 1.72 trillion, accounting for 9.6% of total trade. Exports to the U.S. fell 8.7% to RMB 1.27 trillion, and imports dropped 6.3% to RMB 447.51 billion.
Trade with countries participating in the Belt and Road Initiative (BRI) reached RMB 9.24 trillion, up 4.2%. Exports rose 10.4% to RMB 5.34 trillion, while imports declined 3.2% to RMB 3.9 trillion.
3. Private and Foreign-Invested Enterprises Drove Trade Growth
Private enterprises contributed RMB 10.25 trillion in total trade, up 7% YoY, and accounting for 57.1% of China's total, an increase of 2.4 percentage points compared to the same period last year. Exports rose 8% to RMB 6.97 trillion (65.4% of total exports), while imports increased 4.9% to RMB 3.28 trillion (45.1% of total imports).
Foreign-invested enterprises recorded RMB 5.21 trillion in trade, up 2.3% YoY, making up 29% of total trade. Exports climbed 6% to RMB 2.88 trillion, while imports dipped 1.9% to RMB 2.33 trillion.
State-owned enterprises (SOEs) reported RMB 2.44 trillion in trade, down 12.7%, representing 13.6% of total trade. While SOE exports increased 4.3% to RMB 799.4 billion, imports plummeted 19.1% to RMB 1.64 trillion.
4. Electromechanical Exports Accounted for 60% of Total Exports
Exports of electromechanical products amounted to RMB 6.4 trillion, up 9.3% YoY, representing 60% of total exports. Notable items included:
* Automatic data processing equipment and components: RMB 575.23 billion, up 3.9%
* Integrated circuits: RMB 526.4 billion, up 18.9%
* Automobiles: RMB 351.37 billion, up 6.6%
In contrast, exports of labor-intensive goods declined 1.5% to RMB 1.66 trillion (15.6% of total exports). Within this category, textile exports grew 3.7% to RMB 420.14 billion. Agricultural product exports rose 4.7% to RMB 296.09 billion.
5. Prices of Key Bulk Commodities Fell, While Imports of Electromechanical Goods Rose
China's imports of key commodities saw volume and price declines:
* Iron ore: 486 million tons, down 5.2%; average price RMB 707.2/ton, down 16.4%
* Crude oil: 230 million tons, up 0.3%; RMB 3,864.3/ton, down 10.6%
* Coal: 189 million tons, down 7.9%; RMB 559/ton, down 22.5%
* Natural gas: 49.05 million tons, down 9.5%; RMB 3,274/ton, down 6.8%
* Soybeans: 37.11 million tons, down 0.7%; RMB 3,233.9/ton, down 13.9%
* Refined oil: 15.98 million tons, down 26.8%; RMB 4,323.2/ton, down 0.1%
In contrast, copper imports rose in value despite lower volume. Imports of unwrought copper and copper products fell 6.7% to 2.169 million tons, but the average price rose 6.6% to RMB 69,400/ton.
Meanwhile, imports of electromechanical products increased 6% to RMB 2.83 trillion, indicating continued demand for high-tech equipment and industrial components.
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revision for all the information.