According to Customs statistics, in January 2021, the total value of bilateral trade between China and Central and Eastern Europe countries (hereinafter referred to as CEECs) was RMB68.84 billion, an increase of 8.7% over the same period last year (similarly hereinafter). Among them, China's exports registered RMB51.33 billion, an increase of 4.5%, while imports reached RMB17.51 billion, an increase of 23%.
The main features are as follows:
1. The main exports were electro-mechanical products and labor-intensive products.
In January 2021, China exported RMB36.75 billion of electro-mechanical products to CEECs, an increase of 12.8%, accounting for 71.6% of the total value of China’s exports to CEECs in that month (similarly hereinafter). Among them, automatic data processing machines and parts registered RMB5.05 billion, an increase of 36.5%, electrical equipments accounted for RMB3.94 billion, an increase of 36.4%. During the same period, exports of labor-intensive products reached RMB8.87 billion, an decline of 13.1%, accounting for 17.3%. Among them, garments and clothing accessories registered RMB2.49 billion, down 11.4%, textile yarn, fabrics and articles thereof registered RMB1.82 billion, down 24.3%. Exports of basic organic chemicals decreased by 6.5% to RMB640 million, accounting for 1.2%. In addition, exports of agricultural products totaled RMB440 million, down 27%, exports of food dropped by 29.4% to RMB330 million.
2. The main imports were electro-mechanical products, copper and wood.
In January 2021, China imported RMB12.34 billion of electro-mechanical products from CEECs, an increase of 21.8%, accounting for 70.4% of the total value of China’s total imports from CEECs in that month (similarly hereinafter). Among them, parts and accessories of vehicle rose by 69.9% to RMB3.19 billion, passenger cars declined by 28.7% to RMB2.43 billion. During the same period, imports of unwrought copper and copper products declined by 24.6% to RMB750 million, accounting for 4.3%, while imports of wood and articles thereof reached RMB620 million, an increase of 40.8%, accounting for 3.6%. Additionally, imports of agricultural products registered RMB350 million, down 40.7%, accounting for 2%, and imports of food dropped by 51.6% to RMB270 million, accounting for 1.5%.
3. Poland, Czech and Hungary are the top three trading partners.
In January 2021, China’s trade with Poland, Czech and Hungary were RMB21.38 billion, RMB11.68 billion and RMB8.52 billion, an increase of 12.1%, 14.5% and 32.1%, respectively, accounting for 31.1%, 17% and 12.4% of China’s total trade value with CEECs in that month.
(The Chinese version shall prevail.)