According to Customs statistics, the bilateral trade volume between China and Central and Eastern European countries (hereinafter referred to as CEECs) in August, 2021 stood at RMB71.99 billion, up by 8.7% year-on-year (the same below). Exports rose by 11.7% to RMB54.58 billion and imports grew by 0.3% to RMB17.41 billion.
During the first eight months in 2021, the total volume of China's bilateral trade with CEECs registered RMB549.89 billion, up by 28.3%. Exports increased by 25.2% to RMB401.94 billion and imports grew by 37.7% to RMB147.95 billion.
The main features are as follows:
1. Electro-mechanical and labor-intensive products dominated the exports.
In August 2021, the electro-mechanical products exported from China to CEECs rose by 11.3% to RMB37.3 billion, accounting for 68.3% of the total export volume from China to CEECs (similarly hereinafter) that month. Of these, electrical equipment was up by 29.2% to RMB3.83 billion, and parts and accessories of automatic data processing machines came down by 14.4% to RMB3.52 billion. During the same period, the labor-intensive products exported grew by 7.6% to RMB10.34 billion, accounting for 18.9%. Of these, garments and clothing accessories climbed by 12.2% to RMB3.7 billion, and textile yarns, fabrics and articles thereof dropped by 21.7% to RMB 1.69 billion. Exported basic organic chemicals increased by 5.7% to RMB520 billion, occupying 1% of the total. In addition, exports of agricultural products amounted to RMB 460 million, up by 15.2%, and that of foods reached RMB 310 million, up by 13.1%.
2. Electro-mechanical products, coppers and agricultural products dominated the imports.
In August 2021, the electro-mechanical products imported from China to CEECs declined by 4% to RMB12.05 billion, making up 69.3% of China's total imports from CEE countries (similarly hereinafter) that month. Of these, passenger cars were down by 26.5% to RMB2.98 billion, parts and accessories of vehicle were up by 7.6% to RMB2.54 billion. During the same period, the imported unwrought copper and copper products fell by 16.8% to RMB880 million, accounting for 5.1% of the total, and the imported wood and articles thereof grew by 19.8% to RMB770 million, making up 4.4%. In addition, the imports of agricultural products accrued by 38.5% to RMB400 million, occupying 2.3% of the total, and that of foods shrunk by 7.3% to RMB230 million.
3. Poland, the Czech Republic and Hungary became China's top three trading partners.
In August 2021, China's exports and imports with Poland, the Czech Republic and Hungary amounted to RMB23.34 billion, RMB10.18 billion, and RMB8.82 billion respectively, up by 4.3%, down by 6.5%, and up by 19.1%, which respectively occupied 32.4%, 14.1%, and 12.2% of China’s total bilateral trade volume that month.
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