According to Customs statistics, the total bilateral trade volume between China and Central and Eastern European countries (hereinafter referred to as CEECs) in October, 2021 stood at RMB72.19 billion, up 7.2% year-on-year (similarly hereinafter). Of these, exports to CEECs rose by 24.5% to RMB57.13 billion and imports declined by 29.7% to RMB15.06 billion.
The total bilateral trade volume between China and CEECs increased by 24.8% to RMB701.6 billion in the first ten months of 2021. Of these, exports to CEECs grew by 25.2% to RMB518.18 billion, and imports from CEECs rose by 23.6% to RMB183.42 billion.
The main features are as follows:
1. Electro-mechanical and labor-intensive products dominated the exports.
In October 2021, the electro-mechanical products exported to CEECs grew by 20.5% to RMB40.98 billion, making up 71.7% of the total exports to CEECs that month (similarly hereinafter). Of these, automatic data processing equipment and parts thereof increased by 0.2% to RMB4.65 billion; electrical equipment were up by 19.8% to RMB4.09 billion. In the same period, the exports of labor-intensive products rose by 35.1% to RMB9.34 billion, accounting for 16.4% of the total exports. Of these, garments and clothing accessories were up by 58.8% to RMB2.81 billion; textile yarns, fabrics and articles thereof increased by 1.5% to RMB1.76 billion; medical materials and pharmaceuticals shot up by 164.8% to RMB610 million, accounting for 1.1%. In addition, agricultural exports climbed by 5.7% to RMB470 million; exports of foodstuffs declined by 11.3% to RMB310 million.
2. Electromechanical products, copper, wood and wooden products dominated the imports.
In October 2021, electromechanical products imported from CEECs declined by 39.4% to RMB10.16 billion, making up 67.4% of the total imports from CEECs in the same period (similarly hereinafter). Of these, auto parts and accessories went down by 23.3% to RMB2.18 billion; passenger vehicles went down by 76.2% to RMB1.7 billion. During the same period, imports of metal mines and ores increased by 288% to RMB730 million, accounting for 4.9%; imports of unwrought copper and copper semis went down by 46.7% to RMB600 million, accounting for 4%. In addition, imports of agricultural products went down by 11.71% to RMB280 million, accounting for 1.8%; food imports totaled RMB230 million, down 21.2%.
3. Poland, Czech and Hungary were the top three trading partners.
In October 2021, China's imports and exports to Poland, Czech, Hungary were RMB24.26 billion, RMB11.18 billion and RMB8.28 billion, up 18.5%, down 14% and up 18.1% respectively, accounting for 33.6%, 15.5%, 11.5% of the total volume of imports and exports to CEECs in that month.
(The Chinese version shall prevail.)