(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 91.68 billion in August 2024, a year-on-year increase of 16.3% over the same period last year (the same below). Among them, the value of exports to CEE reached RMB 69.51 billion, an increase of 11.7%; the value of imports from CEE reached RMB 22.17 billion, an increase of 33.6%.
In the first eight months of 2024, the total value of bilateral trade between China and CEE was RMB 670.24 billion, an increase of 8%. Among them, the value of exports to CEE reached RMB 518.93 billion, an increase of 6.8%; the value of imports from CEE reached RMB 151.31 billion, an increase of 12.3%.
The main features of bilateral trade between China and CEE in August 2024 are as follows:
(I) Mechanical & electrical products and labor-intensive products were the main exported products.
In August 2024, China exported RMB 47.91 billion of mechanical and electrical products to CEE, an increase of 14.7%, accounting for 68.9% of the gross value of exports to CEE from China (the same below) in the same month. Among them, the value of electrical equipment & material reached RMB 5.44 billion, a decrease of 3.4%; the value of automatic data processing equipment and its parts and components reached RMB 4.72 billion, an increase of 13.1%. Over the same period, the export of labor-intensive products reached 11.54 billion yuan, with an increase of 1.9%, accounting for 16.6%. Among them, the value of textile and garment reached RMB 5.85 billion, an increase of 3.6%; the value of plastic products reached RMB 1.74 billion, an increase of 14.8%. In addition, the value of exported agricultural products reached RMB 810 million, with a decrease of 0.6%, accounting for 1.2%; the value of exported foods reached RMB 380 million, with an increase of 28.9%.
(II) Mechanical & electrical products, metallic mineral ores, and agricultural products were the main imported products.
In August 2024, China imported RMB 16.52 billion of mechanical and electrical products from CEE, with an increase of 51.2%, accounting for 74.5% of the gross value of imports from CEE to China (the same below) in the same month. Among them, the value of automobiles reached RMB 5.32 billion, an increase of 189.2%; the value of auto parts reached RMB 3.79 billion, an increase of 65.9%. In the same period, the value of imported metal ore and ore sand reached RMB 1.41 billion, an increase of 3.1%, accounting for 6.3% of the gross value of imports from CEE to China; the value of imported unwrought copper and copper material reached RMB 760 million, an increase of 83.9%, accounting for 3.4% of the gross value of imports from CEE to China. In addition, the value of imported agricultural products reached RMB 320 million, a decrease of 55%, accounting for 1.4%; the value of imported foods reached RMB 160 million, a decrease of 71%.
(III) Poland, the Czech Republic, and Hungary were the top three trading partners.
In August 2024, China's imports from and exports to Poland, the Czech Republic, and Hungary amounted to RMB 29.22 billion, RMB 13.01 billion, and RMB 10.39 billion respectively, with an increase of 10.9%, 13%, and 21.1% respectively, accounting for 31.9%, 14.2%, and 11.3% respectively of China's gross import-export value from and to CEE in the same month.