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China foreign trade up 7.5% in Q3

Economy

China's foreign trade increased 7.5 percent year on year in the third quarter of this year, official data showed Tuesday.

XinhuaUpdated: October 13, 2020

China's foreign trade increased 7.5 percent year on year in the third quarter (Q3) of this year, official data showed Tuesday.

Exports jumped 10.2 percent year on year while imports climbed 4.3 percent in yuan terms, the General Administration of Customs (GAC) said.

The quarterly value of both exports and imports reached a record high in Q3, according to GAC spokesperson Li Kuiwen.

In the first three quarters, China's foreign trade of goods totaled 23.12 trillion yuan (3.44 trillion U.S. dollars), up 0.7 percent year on year, reversing declines seen in the first two quarters when the country's foreign trade was weighed down by the COVID-19 pandemic.