According to data released by the General Administration of China Customs, China's total import and export value from January to November of 2022 was 38.34 trillion yuan, a year-on-year growth of 8.6%. Among them, exports were 21.83 trillion yuan, an increase of 11.9%; imports were 16.50 trillion yuan, an increase of 4.6%; trade surplus was 5.33 trillion yuan, an increase of 42.8%.
From the perspective of export product types, both mechanical and electrical products and high-tech products achieved growth. In the first 11 months of 2022, China's export of mechanical and electrical products was 12.47 trillion yuan, an increase of 8.4% over the same period last year, accounting for 57.2% of the total export value. Among them, automatic data processing equipment and its parts and components were 1.45 trillion yuan, a decrease of 1.8%; mobile phones were 857.42 billion yuan, an increase of 4.2%; household appliances were 523.07 billion yuan, a decrease of 10.7%; integrated circuits were 929.73 billion yuan, an increase of 4.8%. During the same period, the export of high-tech products was 5.79 trillion yuan, an increase of 2.5% over the same period last year, accounting for 26.6% of the total export value.
From the perspective of imported product types, China imported the highest number of mechanical and electrical products in the first 11 months of 2022, accounting for 38.6% of the total import value. Followed by high-tech products, up to 28.1%. Then there are crude oil, agricultural products, iron ore, and its concentrates; the three are 13.4%, 8.5%, and 4.8%, respectively. China has a tremendous demand for technology products and a certain degree of dependence on imported energy, food, and industrial raw materials.
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