General Administration of Customs: China's Import and Export of Goods Trade Grew by 2.5% in the First Five Months, with Export up 6.3% YoY in May

According to customs statistics, in the first five months of 2025, the total value of China's import and export of goods trade was 17.94 trillion yuan, up 2.5% YoY (the same hereinafter). Of this total, exports amounted to 10.67 trillion yuan, up 7.2%, while imports reached 7.27 trillion yuan, down 3.8%.

In May, the total value of China's import and export of goods trade was 3.81 trillion yuan, up 2.7%. Of this total, exports amounted to 2.28 trillion yuan, up 6.3%, while imports reached 1.53 trillion yuan, down 2.1%.

The main characteristics of China's import and export in the first five months are as follows:

1. Growth in import and export of Ordinary Trade and processing trade

In the first five months, China's import and export of Ordinary Trade reached 11.51 trillion yuan, up 0.8%, accounting for 64.2% of China's total foreign trade value. Of this total, exports amounted to 7.04 trillion yuan, up 7%, while imports reached 4.47 trillion yuan, down 7.8%. During the same period, the import and export of processing trade reached 3.21 trillion yuan, up 6.2%, accounting for 17.9%. Of this total, exports amounted to 1.99 trillion yuan, up 4.5%, while imports reached 1.22 trillion yuan, up 9.3%. In addition, China's import and export through bonded logistics amounted to 2.54 trillion yuan, up 5.9%. Of this total, exports amounted to 1.05 trillion yuan, up 15.8%, while imports reached 1.49 trillion yuan, down 0.2%.

2. Growth in import and export with ASEAN and the EU

In the first five months, ASEAN was China's largest trading partner, with the total trade value between China and ASEAN reaching 3.02 trillion yuan, up 9.1%, accounting for 16.8% of China's total foreign trade value. Of this total, exports to ASEAN amounted to 1.9 trillion yuan, up 13.5%, while imports from ASEAN reached 1.12 trillion yuan, up 2.3%. The EU was China's second-largest trading partner, with the total trade value between China and the EU reaching 2.3 trillion yuan, up 2.9%, accounting for 12.8%. Of this total, exports to the EU amounted to 1.57 trillion yuan, up 7.7%, while imports from the EU reached 728.33 billion yuan, down 6.1%. The US was China's third-largest trading partner, with the total trade value between China and the US reaching 1.72 trillion yuan, down 8.1%, accounting for 9.6%. Of this total, exports to the US amounted to 1.27 trillion yuan, down 8.7%, while imports from the US reached 447.51 billion yuan, down 6.3%.

During the same period, China's total import and export with countries participating in the Belt and Road Initiative reached 9.24 trillion yuan, up 4.2%. Of this total, exports amounted to 5.34 trillion yuan, up 10.4%, while imports reached 3.9 trillion yuan, down 3.2%.

3. Growth in import and export of private enterprises and foreign-invested enterprises

In the first five months, the import and export of private enterprises reached 10.25 trillion yuan, up 7%, accounting for 57.1% of China's total foreign trade value, an increase of 2.4 percentage points compared with the same period last year. Of this total, exports amounted to RMB 6.97 trillion, up 8%, accounting for 65.4% of China's total export value. Imports reached RMB 3.28 trillion, up 4.9%, accounting for 45.1% of China's total import value. During the same period, the import and export volume of foreign-invested enterprises was RMB 5.21 trillion, up 2.3%, accounting for 29% of China's total foreign trade value. Of this total, exports amounted to RMB 2.88 trillion, up 6%, and imports reached RMB 2.33 trillion, down 1.9%. The import and export volume of state-owned enterprises was RMB 2.44 trillion, down 12.7%, accounting for 13.6% of China's total foreign trade value. Of this total, exports amounted to RMB 799.4 billion, up 4.3%, and imports reached RMB 1.64 trillion, down 19.1%.

IV. Mechanical and electrical products accounted for 60% of exports, with exports of automatic data processing equipment and its parts, integrated circuits, and automobiles increasing

In the first five months, China exported mechanical and electrical products worth RMB 6.4 trillion, up 9.3%, accounting for 60% of China's total export value. Of this total, automatic data processing equipment and its parts accounted for RMB 575.23 billion, up 3.9%; integrated circuits accounted for RMB 526.4 billion, up 18.9%; and automobiles accounted for RMB 351.37 billion, up 6.6%. During the same period, China exported labor-intensive products worth RMB 1.66 trillion, down 1.5%, accounting for 15.6%. Of this total, textiles accounted for RMB 420.14 billion, up 3.7%. Exports of agricultural products reached RMB 296.09 billion, up 4.7%.

V. Import prices of major bulk commodities such as iron ore, crude oil, and coal fell, while the import value of mechanical and electrical products increased

In the first five months, China imported 486 million mt of iron ore, down 5.2%, with an average import price (the same hereinafter) of RMB 707.2 per mt, down 16.4%; 230 million mt of crude oil, up 0.3%, at RMB 3,864.3 per mt, down 10.6%; 189 million mt of coal, down 7.9%, at RMB 559 per mt, down 22.5%; 49.053 million mt of natural gas, down 9.5%, at RMB 3,274 per mt, down 6.8%; 37.108 million mt of soybeans, down 0.7%, at RMB 3,233.9 per mt, down 13.9%; and 15.98 million mt of refined oil products, down 26.8%, at RMB 4,323.2 per mt, down 0.1%. In addition, China imported 11.698 million mt of primary-formed plastics, down 2.3%, at RMB 10,600 per mt, down 0.8%; and 2.169 million mt of unwrought copper and copper semis, down 6.7%, at RMB 69,400 per mt, up 6.6%. During the same period, China imported mechanical and electrical products worth RMB 2.83 trillion, up 6%.