Exports and Imports of China’s Mechanical and Electrical Products Hit the Record in November 2021
According to the trade data released by the General Administration of Customs of the People’s Republic of China (GACC), China’s export of mechanical and electrical products totaled US$ 1.79 trillion in the past eleven months of this year, 30.4 percent higher than a year prior, and the two-year compound growth rate was 16.5 percent. The value of import totaled US$ 1.04 trillion, 22 percent higher than a year prior, and the two-year compound growth rate was 12.1 percent. The trade balance of mechanical and electrical products was US$749.06 billion in surplus, much higher than the total surplus in goods (US$ 581.72 billion).
In November alone, China’s export in mechanical and electrical products reached US$ 194.57 billion, hitting the record of monthly exports, up by 17.6 percent from a year earlier, and marks an increase of 46.8 percent from the pre-epidemic level in 2019, realizing the double-digit positive year-on-year growth for 17 consecutive months.
In November, the export value of the major commodities of mechanical and electrical products increased generally. The export value of automatic data processing machines and parts thereof grew by 18.4 percent to US$ 25.1 billion, hitting the historic record again. The exports of integrated circuits increased by 41.7 percent year-on-year to US$ 15.76 billion, setting the export extreme value, which was second only to US $15.9 billion in March 2013). The export value of automobiles increased by 99.2 percent year-on-year, maintaining high-speed growth. Supported by the increasing price, household appliances saw the slight year-on-year increase of 0.8 percent.
The trend of quantity reduction and price increase in mobile phone exports continued. Mobile phone exports fell by 19.7 percent year-on-year to US $16.53 billion, but still the highest volume this year
In November, the imports reached US$ 108.07 billion, hitting the record of monthly exports, up by 17.4 percent from a year earlier and 28.1 percent over the same period in 2019, realizing the import value of more than US$ 90 billion for nine consecutive months.
The imports of integrated circuits increased by 26.3 percent year-on-year to US $41.56 billion, a new monthly record of this product, which saw the positive growth for 23 consecutive months.
Data Source: www.customs.gov.cn
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