In 2022, China's total import and export value exceeded 40 trillion yuan for the first time, and the growth rate of electronic components was 22%

The total import and export value of China's goods trade in 2022 was RMB 42.07 trillion, an increase of 7.7% compared to 2021. Among them, exports reached 23.97 trillion yuan, an increase of 10.5%; Import reached 18.1 trillion yuan, an increase of 4.3%. In terms of exports, in 2022, private enterprises exported 7 trillion yuan of mechanical and electrical products, an increase of 15.3%. Among them, the growth rates of electronic components, electrical equipment, and automotive parts were 22%, 42.5%, and 19%, respectively.

Recently, at the press conference on the import and export situation for the year 2022 held by the State Administration of Customs, spokesperson Lv Daliang stated that the total import and export value of China's goods trade in 2022 was 42.07 trillion yuan, an increase of 7.7% compared to 2021. Among them, exports reached 23.97 trillion yuan, an increase of 10.5%; Import reached 18.1 trillion yuan, an increase of 4.3%.

In 2022, China's total import and export value exceeded the RMB 40 trillion mark for the first time, maintaining stable growth on the basis of its high base in 2021, and reaching a new historical high in scale. For six consecutive years, China has maintained its position as the world's top trading country in goods. From a quarterly perspective, the total import and export value in the first and second quarters exceeded 9 trillion yuan and 10 trillion yuan respectively. In the third quarter, the total import and export value increased to 11.3 trillion yuan, which is a new high in quarterly scale. In the fourth quarter, the total import and export value continued to maintain a level of 11 trillion yuan.

In 2022, China's import and export of mechanical and electrical products reached 20.66 trillion yuan, an increase of 2.5%, accounting for 49.1% of the total import and export value. Among them, exports of solar cells, lithium batteries, and automobiles increased by 67.8%, 86.7%, and 82.2%, respectively.

In terms of exports, in 2022, private enterprises exported 7 trillion yuan of mechanical and electrical products, an increase of 15.3%. Among them, the growth rates of electronic components, electrical equipment, and automotive parts were 22%, 42.5%, and 19%, respectively.

In addition, Lv Daliang pointed out that on January 1, 2023, the Regional Comprehensive Economic Partnership Agreement will officially enter into force and be implemented for one year. Over the past year, China has implemented RCEP with high quality, continuously releasing policy dividends, and promoting the deepening of regional economic integration. According to customs statistics, in 2022, China's imports and exports to the other 14 member countries of RCEP reached 12.95 trillion yuan, an increase of 7.5%, accounting for 30.8% of the total import and export value of foreign trade.

In 2022, China's import and export of intermediate products to other RCEP member countries reached 8.7 trillion yuan, an increase of 8.5%, accounting for 67.2% of the total import and export value to other member countries during the same period. In terms of major commodities, China's exports of mechanical and electrical products and labor-intensive products to other RCEP member countries increased by 13.2% and 20.7%, respectively, with electronic components, batteries, and automobiles increasing by 15%, 50.3%, and 71.6%, respectively. China imports 46.2% of mechanical and electrical products from other RCEP member countries.