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China's goods trade reaches 39.94 trillion yuan in the first three quarters, customs data show

China's goods trade in the first three quarters of the year came to 39.94 trillion yuan, about 5.94 trillion US dollars, 18.8 per cent higher than a year earlier. Exports were 23.2 trillion yuan, up 16.4 per cent, and imports 16.74 trillion yuan, up 22.3 per cent, so imports grew faster than exports. The General Administration of Customs is the body that compiles these figures. Growth quickened through the year: total trade rose 15.3 per cent in the first quarter, 18.3 per cent in the second and 22.3 per cent in the third. Trade with free trade agreement partners was 19.55 trillion yuan, up 30 per cent, and trade with the Association of Southeast Asian Nations was 6.84 trillion yuan, up 22.7 per cent. Trade with the European Union was 4.78 trillion yuan, up 8.4 per cent, while trade with the United States was 3.18 trillion yuan, up 4.1 per cent.

Total goods trade: 39.94 trillion yuan Exports: 23.2 trillion yuan, up 16.4% Imports: 16.74 trillion yuan, up 22.3% Trade with ASEAN: 6.84 trillion yuan
Why it matters for exams: Names the General Administration of Customs as the source and fixes the nine-month trade total of 39.94 trillion yuan with ASEAN ahead of the European Union as a partner.
Kerala PSCUPSC

In plain words

ASEAN Association of Southeast Asian Nations — A ten-member grouping of Southeast Asian countries and China's largest regional trading partner.

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