An Overview of Bilateral Trade between China and Central and Eastern European Countries in October 2024

(The Chinese version shall prevail.)

 

 

According to customs statistics, the total value of bilateral trade between China and Central and Eastern European countries (hereinafter referred to as CEE) was RMB 84 billion in October 2024, a year-on-year increase of 8% over the same period last year (the same below). Among them, the value of exports to CEE reached RMB 67.06 billion, an increase of 19.1%; the value of imports from CEE reached RMB 16.94 billion, a decrease of 21.1%.

In the first ten months of 2024, the total value of bilateral trade between China and CEE was RMB 837.8 billion, an increase of 7.5%. Among them, the value of exports to CEE reached RMB 651.19 billion, with an increase of 7.4%; the value of imports from CEE reached RMB 186.61 billion, with an increase of 7.5%.

The main features of bilateral trade between China and CEE in October 2024 are as follows:

(I) Mechanical & electrical products (M&E products) and labor-intensive products were the main exported products.

In October 2024, China exported RMB 46.11 billion of M&E products to CEE, an increase of 15.1%, accounting for 68.8% of the gross value of exports to CEE from China (the same below) in the same month. Among them, the value of electrical appliances reached RMB 5.83 billion, an increase of 9.6%; the value of mobile phones reached RMB 4.43 billion, an increase of 44.8%. Over the same period, the export of labor-intensive products reached RMB 10.18 billion, with an increase of 22.5%, accounting for 15.2%. Among them, the value of textile and clothing reached RMB 4.72 billion, an increase of 25.8%; the value of plastic products reached RMB 1.69 billion, an increase of 17.4%. In addition, the value of exported agricultural products reached RMB 1.1 billion, with an increase of 17.1%, accounting for 1.6%; the value of exported food products reached RMB 600 million, with an increase of 36.4%.

(II) The main imported products included M&E products, metal ores and sands, and unwrought copper and copper materials.

In October 2024, China imported RMB 11.52 billion of M&E products from CEE, a decrease of 30.3%, accounting for 68% of the total value of imports from CEE to China in that month (similarly hereinafter). Among them, the value of auto parts reached RMB 2.62 billion, an increase of 17.8%; the value of automobiles (including chassis) reached RMB 2.26 billion, a decrease of 70.6%. Over the same period, the value of imported metal ores and sands reached RMB 1.46 billion, an increase of 41.6%, accounting for 8.6%; the value of imported unwrought copper and copper materials reached RMB 870 million, an increase of 8.8%, accounting for 5.1%. In addition, the value of imported agricultural products reached RMB 310 million, with a decrease of 26%, accounting for 1.9%; the value of imported foods reached RMB 220 million, with an increase of 23.7%, accounting for 1.3%.

(III) Poland, the Czech Republic, and Hungary were the top three trading partners.

In October 2024, China's imports from and exports to Poland, the Czech Republic, and Hungary amounted to RMB 26.74 billion, RMB 14.5 billion, and RMB 9.38 billion respectively, with an increase of 16.7%, 23.5%, and 12.5% respectively. They respectively accounted for 31.8%, 17.3%, and 11.2% of China's imports and exports from and to CEE in the same month.