(The Chinese version shall prevail.)
Customs statistics show that the total value of bilateral trade between China and Central and Eastern European countries (hereinafter referred to as CEE) was RMB 67.63 billion in February 2024, an increase of 15.7% over the same period last year (the same below). Among them, the value of exports to CEE reached RMB 52.66 billion, an increase of 21.8%; the value of imports from CEE reached RMB 14.97 billion, a decrease of 1.6%.
From January to February 2024, the total value of bilateral trade between China and CEE was RMB 152.24 billion, an increase of 5.9%. Among them, the value of exports to CEE reached RMB 121.24 billion, an increase of 9.8%; the value of imports from CEE reached RMB 31 billion, a decrease of 7.2%.
The main features of bilateral trade between China and CEE in February 2024 are as follows:
(I) Mechanical & electrical products and labor-intensive products were the main exported products.
In February 2024, China exported RMB 36.99 billion of mechanical and electrical products to CEE, an increase of 12.7%, accounting for 70.2% of the gross value of exports to CEE from China (the same below) in the same month. Among them, the value of automatic data processing equipment and its parts and components reached RMB 4.06 billion, an increase of 25.2%; the value of electrical equipment & material reached RMB 3.88 billion, a decrease of 27.3%. Over the same period, the export of labor-intensive products reached RMB 8.9 billion, an increase of 125%, accounting for 16.9% of the gross export value from China to CEE. Among them, the value of textile and garment reached RMB 3.95 billion, an increase of 123%; the value of plastic products reached RMB 1.46 billion, an increase of 101.2%. In addition, the export of agricultural products reached RMB 620 million, an increase of 50.3%, accounting for 1.2%; the export of steel reached RMB 510 million, an increase of 1.6%, accounting for 1%; the export of basic organic chemicals reached RMB 510 million, a decrease of 0.7%, accounting for 1%; the export of food reached RMB 270 million, an increase of 22.4%.
(II) Mechanical & electrical products, metallic mineral ores, copper materials were the main imported products.
In February 2024, China imported RMB 10.5 billion of mechanical & electrical products from CEE, an increase of 3.4%, accounting for 70.1% of the gross value of imports from CEE to China in the same month (the same below). Among them, the import value of auto parts totaled RMB 2.44 billion, an increase of 22.9%; the import value of electrical equipment & material totaled RMB 2.15 billion, an increase of 19%. In the same period, the value of imported metal ore and ore sand reached RMB 1.09 billion, a decrease of 5.9%, accounting for 7.3% of the gross value of imports from CEE to China; The value of imported unwrought copper and copper material reached RMB 510 million, a decrease of 14.9%, accounting for 3.4% of the gross value of imports from CEE to China. In addition, the value of imported agricultural products reached RMB 480 million, a decrease of 3.5%, accounting for 3.2%; the value of imported medical materials and drugs reached RMB 310 million, an increase of 17.9%, accounting for 2.1%; the value of imported food reached RMB 260 million, a decrease of 19.5%, accounting for 1.8%.
(III) Poland, the Czech Republic, and Hungary were the top three trading partners.
In February 2024, China's imports from and exports to Poland, the Czech Republic and Hungary amounted to RMB 22.83 billion, RMB 10.37 billion and RMB 7.81 billion respectively, an increase of 35.6%, a decrease of 6.8%, and an increase of 3.2% respectively, accounting for 33.8%, 15.3% and 11.5% of China's gross import-export value from and to CEE in the same month, respectively.