(Yicai Global) May 7 -- China’s trade totaled USD1.8 trillion in the first four months of the year, a 38.2 percent increase over last year and a 27.4 percent gain on same period in 2019, according to figures released today by the General Administration of Customs.

Exports stood at USD973.7 billion, an increase of 44 percent on last year and up 30.7 percent on 2019, the data showed. Imports were worth USD815.8 billion, up 31.9 percent on 2020 and 23.7 percent on 2019. The trade surplus soared 174 percent to USD157.9 billion.

The Association of Southeast Asian Nations remained China’s No. 1 trading partner in the period. Trade between the two rose 27.6 percent to CNY1.7 trillion (USD266.1 billion), accounting for 14.8 percent of China’s overall trade. The European Union was second with a gain of 32.1 percent to CNY1.6 trillion, or 14 percent of the total.

The United States came third. The value of China-US trade jumped 50.3 percent to CNY1.4 trillion, accounting for 12.4 percent of the total. Exports to the US climbed 49.3 percent to CNY1.1 trillion, while imports rose 53.3 percent to CNY393.1 billion. China’s trade surplus with the US was CNY653.9 billion, an increase of 47 percent.

Exports of both electromechanical and labor-intensive products gained. Outbound shipments of mechanical and electrical goods rose 36.3 percent to CNY3.8 trillion in the four months, accounting for 59.9 percent of China’s overall exports.

Exports of automatic data processing equipment and parts amounted to CNY489.9 billion, an increase of 32.2 percent. Those of mobile phones gained 35.6 percent to CNY292.1 billion and those of automobiles soared 91.3 percent to CNY57.8 billion.

The import volume and price of iron ore, soybeans and copper all rose, while the volume of crude oil and natural gas brought into China increased as prices fell.

The nation imported 382 million tons of iron ore in the four months, an increase of 6.7 percent. The average price was CNY1,009.7 (USD156.20) a ton, up 58.8 percent. Oil imports rose 7.2 percent to 180 million tons, with the average cost down 5.4 percent at CNY2,746.9 a ton.

Editor: Peter Thomas