Up 6.2 %! China’s goods trade maintains steady growth in the first ten months

       According to customs statistics, China’s goods trade continued its steady expansion in the first ten months of 2025, with total imports and exports reaching RMB 37.31 trillion, up 3.6 % year on year. Exports rose 6.2 % to RMB 22.12 trillion, while imports were broadly flat at RMB 15.19 trillion. In October alone, total trade stood at RMB 3.7 trillion (+0.1 %), with exports of RMB 2.17 trillion (–0.8 %) and imports of RMB 1.53 trillion (+1.4 %), marking the fifth consecutive monthly increase in imports.

1. General & processing trade both expanded
   In the first 10 months, general-trade imports/exports reached RMB 23.64 trillion, up 2.3 % and accounting for 63.4 % of China’s total foreign-trade value; processing-trade rose 6.5 % to RMB 6.94 trillion (18.6 %); bonded-logistics trade grew 5.5 % to RMB 5.34 trillion.
2. Trade with ASEAN and the EU increased
   ASEAN remained China’s largest trading partner: two-way trade totaled RMB 6.18 trillion, up 9.1 % and representing 16.6 % of China’s total. The EU ranked second at RMB 4.88 trillion, up 4.9 % (13.1 %). The U.S. fell 15.9 % to RMB 3.38 trillion (9 %). Trade with Belt & Road partner countries rose 5.9 % to RMB 19.28 trillion.
3. Private & foreign-invested firms posted gains
   Private enterprises’ imports/exports grew 7.2 % to RMB 21.28 trillion—57 % of the national total, 1.9 percentage points higher than a year earlier. Foreign-invested enterprises rose 2.9 % to RMB 10.91 trillion (29.3 %), while state-owned enterprises dropped 8.1 % to RMB 5.04 trillion (13.5 %).
4. Electro-mechanical products >60 % of exports; ICs & vehicles surged
   Electro-mechanical exports reached RMB 13.43 trillion, up 8.7 % and 60.7 % of total exports. Breakdown:

• Automatic data-processing equipment & parts: RMB 1.19 trillion (–0.7 %)
• Integrated circuits: RMB 1.16 trillion (+24.7 %)
• Motor vehicles: RMB 798.4 billion (+14.3 %)

• Garments & accessories: RMB 905 billion (–3 %)
• Textiles: RMB 844.2 billion (+1.8 %)
• Plastics: RMB 614.6 billion (–0.1 %)

5. Bulk-commodity import prices declined; electro-mechanical imports rose
   Iron ore: 1.03 billion t (+0.7 %), average price –10.7 %
   Crude oil: 471 million t (+3.1 %), price –12.1 %
   Coal: 388 million t (–11 %), price –24.5 %
   Natural gas: 103 million t (–6.2 %), price –8.8 %
   Soybeans: 95.7 million t (+6.4 %), price –11.1 %
   Refined oil products: 34.2 million t (–16.3 %), price –4.6 %