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China's foreign trade turnover falls by 6.5% to $3.89 trillion in January-August

The volume of Chinese exports decreased by 5.6% to $2.22 trillion, while its international imports fell by 7.6%

BEIJING, September 7. /TASS/. The volume of China's trade with other countries and regions in January - August decreased year on year by 6.5%, to $ 3.89 trillion, according to the General Administration of Customs of China.

The volume of Chinese exports decreased by 5.6% to $2.22 trillion and international imports to China decreased by 7.6% and amounted to $1.67 trillion.

The United States ($438.1 bln), Japan ($208 bln), South Korea ($202.4 bln), Russia ($155.1 bln), and Australia ($152.9 bln) are China's top foreign trading partners. Trade with the United States, Japan, and South Korea declined by 14.5%, 12.8%, and 17%, respectively. Trade with Russia increased by 32%, while trade with Australia increased by 4.4%.

Furthermore, China's customs data separately considers the volume of trade between mainland China with Hong Kong and Taiwan. These Chinese regions account for a sizable portion of trade turnover - it fell by 5.9% to $177.8 bln with Hong Kong and by 21.3% to $170.2 bln with Taiwan.

At the end of 2022, China's foreign trade turnover reached $5.9 trillion.

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