最新发布！17.94万亿元

Core Viewpoint - China's total goods trade import and export value reached 17.94 trillion yuan in the first five months of 2025, showing a year-on-year growth of 2.5% [1] Trade Performance - Exports amounted to 10.67 trillion yuan, increasing by 7.2%, while imports were 7.27 trillion yuan, decreasing by 3.8% [1] - In May, the total trade value was 3.81 trillion yuan, up 2.7%, with exports at 2.28 trillion yuan (6.3% growth) and imports at 1.53 trillion yuan (2.1% decline) [1] - The trade surplus in May was 103.22 billion USD, with exports growing by 4.8% and imports declining by 3.4% when measured in USD [1] Factors Influencing Trade - The decline in May exports was attributed to high tariffs affecting exports to the U.S., a weakening external demand, and a high base from the previous year [1] - The resilience of China's foreign trade was highlighted by three main drivers: the release of a joint statement from China and the U.S. on trade talks, ongoing "export rush" to markets outside the U.S., and progress in diversifying export markets [1] Import Dynamics - The import value in May saw an expanded year-on-year decline, influenced by reduced imports from the U.S. and a slowdown in import demand due to decreased export growth [2] - The drop in commodity prices, including crude oil, also contributed to the decline in import growth [2] Trade by Type - General trade accounted for 11.51 trillion yuan of the total trade, growing by 0.8%, while processing trade reached 3.21 trillion yuan, increasing by 6.2% [2] Regional Trade Partners - ASEAN emerged as China's largest trading partner with a trade value of 3.02 trillion yuan, growing by 9.1% [3] - The EU was the second-largest partner with a trade value of 2.3 trillion yuan, increasing by 2.9% [3] - Trade with the U.S. decreased by 8.1%, totaling 1.72 trillion yuan [3] Future Outlook - The "export rush" effect to the U.S. is expected to continue into June, with potential for positive year-on-year growth in exports [4] - However, high tariffs and a slowdown in external demand may lead to a decrease in export growth rates [4] - Ongoing support policies for foreign trade enterprises are anticipated to be implemented [4]