China's foreign trade grew by 4.8 percent on a yearly basis to 9.89 trillion yuan ($1.44 trillion) in the first quarter of 2023, data from the General Administration of Customs showed.

Among that, the country's exports rose 8.4 percent year-on-year to 5.65 trillion yuan, while its imports climbed 0.2 percent on a yearly basis to 4.24 trillion yuan.
 

The country's trade with the Association of Southeast Asian Nations - its largest trading partner - reached 1.56 trillion yuan between January and March, up 16.1 percent on a yearly basis, accounting for 15.8 percent of China's total foreign trade value.
 

China's imports and exports to the European Union, the United States, Japan and the Republic of Korea reached 1.34 trillion yuan, 1.11 trillion yuan, 546.41 billion yuan and 528.46 billion yuan, respectively, during the three-month period, accounting for 35.6 percent of the country's foreign trade.
 

From January to March, China's imports and exports with economies participating in the Belt and Road Initiative surged 16.8 percent year-on-year to account for 34.6 percent of its foreign trade, while trade with other participating countries of the Regional Comprehensive Economic Partnership rose 7.3 percent from the first quarter of 2022.

Source: China Daily

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