China-US Trade Surplus Grew 11.5 Percent to USD240 billion in First 10 Months

China-US Trade Surplus Grew 11.5 Percent to USD240 billion in First 10 Months

Zhang Yushuo

Date: Thu, 11/08/2018 - 19:26 / source:Yicai
China-US Trade Surplus Grew 11.5 Percent to USD240 billion in First 10 Months
China-US Trade Surplus Grew 11.5 Percent to USD240 billion in First 10 Months

(Yicai Global) -- China’s trade surplus with the US expanded 11.5 percent to CNY1.65 trillion (USD240 billion) in January to October this year despite the ongoing trade spat between the two countries.

The total value of trade related to China rose 11.3 percent to CNY25.05 trillion in the first 10 months, Chinese customs data shows. Exports and imports made up CNY13.35 trillion and CNY11.7 trillion, respectively, climbing 7.9 percent and 15.5 percent.

The total value of China-US trade in the period rose 7.4 percent to CNY3.44 trillion, accounting for 13.7 percent of China’s overall trade value. The business volume of China's exports to the US grew 8.7 percent to CNY2.56 trillion, while that of China's imports from the US grew 3.7 percent to CNY873.4 billion.

'Generally, the bilateral trade between China and the US is quite supplementary and the inseparable pattern of interest between the two countries has been formed in the market,” said Li Kuiwen, head of statistics for the General Administration of Customs. “China has complete industrial chains with powerful capabilities in manufacturing and US market is also very dependent on products made in China.”

Editor:William Clegg

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Keywords: Trade, Surplus, import, Export, Customs, Statistics