In January-August, the trade turnover between China and the US increased by 2.1% year-on-year to $443.73 billion, according to the General Administration of Customs of China, Report informs.
According to the agency, exports from China to the United States increased by 2.8% (up to $334.15 billion). Imports from the United States remained unchanged ($109.58 billion). During the corresponding period, China's surplus reached $224.57 billion, an increase of 4.5% compared to the first eight months of 2023.
According to statistics, the trade turnover between the two countries in August remained at the level of July and amounted to $60.69 billion. Chinese exports increased by 3.3% and reached $47.25 billion. The supply of American goods, on the other hand, decreased by 9.7% compared to the month and was $13.44 billion.
China imports soybeans, cotton, corn, microchips, off-road vehicles, liquefied petroleum gas and petroleum, coking coal, copper and copper ore from the US. The American side imports from China smartphones, computers, lithium-ion batteries, plastic products, security cameras, household appliances, shoes, children's toys, etc.
Sino-American relations have become increasingly strained in the past few years, affecting trade between the two countries. In 2022, their trade turnover increased by only 0.6% and reached $759.4 billion. In 2023, it decreased by 11.6% to $664.45 billion.