(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 227.46 billion in Q1 2024, an increase of 0.6% over the same period last year (the same below). Among them, the value of exports to CEE reached RMB 178.81 billion, an increase of 1.7%; the value of imports from CEE reached RMB 48.65 billion, a decrease of 3.5%.
The main features of bilateral trade between China and CEE in Q1 2024 are as follows:
(I) Mechanical & electrical products and labor-intensive products were the main exported products.
In Q1 2024, China exported RMB 124.52 billion of mechanical and electrical products to CEE, an increase of 0.9%, accounting for 69.6% of the gross export value (the same below) from China to CEE in the same period. Among them, the value of electrical equipment & material reached RMB 12.69 billion, a decrease of 29.8%; the value of automatic data processing equipment and its parts and components reached RMB 12.66 billion, an increase of 10%. Over the same period, the export of labor-intensive products reached RMB 29.59 billion, with an increase of 15.2%, accounting for 16.5%. Among them, the value of textile and garment reached RMB 12.49 billion, an increase of 5.7%; the value of plastic products reached RMB 4.89 billion, an increase of 26.4%. In addition, the value of exported agricultural products reached RMB 2.25 billion, an increase of 7.9%, accounting for 1.3%; the value of exported foods reached RMB 1.15 billion, an increase of 19.5%.
(II) Mechanical & electrical products, metallic mineral ores, copper materials were the main imported products.
In Q1 2024, China imported RMB 34.52 billion of mechanical and electrical products from CEE, a decrease of 1.7%, accounting for 71% of the gross value of imports from CEE to China (the same below) over the same period. Among them, the value of auto parts reached RMB 7.55 billion, an increase of 17.4%; the value of automobiles reached RMB 7.26 billion, a decrease of 26.9%. In the same period, the value of imported metal ore and ore sand reached RMB 3.49 billion, a decrease of 4.9%, accounting for 7.2% of the gross value of imports from CEE to China; the value of imported unwrought copper and copper material reached RMB 2.17 billion, an increase of 8.1%, accounting for 4.5% of the gross value of imports from CEE to China. In addition, the value of imported agricultural products reached RMB 1.09 billion, a decrease of 24.2%, accounting for 2.2%; the value of imported foods reached RMB 570 million, a decrease of 25.4%.
(III) Poland, the Czech Republic, and Hungary were the top three trading partners.
In Q1 2024, the value of China's imports from and exports to Poland, the Czech Republic and Hungary reached RMB 72.48 billion, RMB 36.85 billion and RMB 25.06 billion respectively, with an increase of 3.6%, 1.2% and a decrease of 2.8% respectively, accounting for 31.9%, 16.2% and 11% of the total value of China's imports from and exports to CEE in the same period.