According to customs statistics, China's goods trade maintained steady growth in the first 10 months of 2025, with total imports and exports reaching RMB 37.31 trillion, up 3.6% year-on-year (y-o-y). Exports amounted to RMB 22.12 trillion, rising 6.2%, while imports totaled 15.19 trillion yuan, remaining largely unchanged from the same period last year. In October, China's total import and export value reached RMB 3.7 trillion, up 0.1%. Exports amounted to 2.17 trillion yuan, down 0.8%, while imports reached RMB 1.53 trillion, up 1.4%, marking five consecutive months of growth.

Key features of China's import and export performance in the first 10 months:

1. Growth in general trade and processing trade imports and exports

In the first ten months, China's general trade imports and exports reached 23.64 trillion yuan, up 2.3%, accounting for 63.4% of total foreign trade. Processing trade imports and exports amounted to 6.94 trillion yuan, up 6.5%, accounting for 18.6%. Bonded logistics imports and exports totaled 5.34 trillion yuan, up 5.5%.

2. Growth in Trade with ASEAN and the EU

In the first ten months, ASEAN remained China's largest trading partner, with bilateral trade totaling RMB 6.18 trillion, up 9.1%, accounting for 16.6% of China's total foreign trade value. The EU ranked as China's second-largest trading partner, with bilateral trade reaching 4.88 trillion yuan, up 4.9%, accounting for 13.1% of China's total foreign trade value. The United States ranked as China's third-largest trading partner, with bilateral trade totaling RMB 3.38 trillion, down 15.9% year-on-year, accounting for 9% of China's total foreign trade value.

During the same period, China's total imports and exports with countries participating in the Belt and Road Initiative reached 19.28 trillion yuan, up 5.9%.

III. Growth in Imports and Exports by Private Enterprises and Foreign-Invested Enterprises

In the first ten months, private enterprises recorded imports and exports totaling RMB 21.28 trillion, up 7.2%, accounting for 57% of China's total foreign trade value—an increase of 1.9 percentage points compared to the same period last year. Foreign-invested enterprises recorded imports and exports of RMB 10.91 trillion, up 2.9%, accounting for 29.3% of China's total foreign trade value. State-owned enterprises recorded imports and exports of RMB 5.04 trillion, down 8.1%, accounting for 13.5% of China's total foreign trade value.

IV. Machinery and Electrical Products Account for Over 60% of Exports; Integrated Circuits and Automobiles Show Significant Growth

In the first ten months, China's exports of mechanical and electrical products reached RMB 13.43 trillion, up 8.7%, accounting for 60.7% of total exports. Among these, exports of automatic data processing equipment and parts amounted to RMB 1.19 trillion, down 0.7%; integrated circuits reached RMB 1.16 trillion, up 24.7%; and automobiles totaled RMB 798.39 billion, up 14.3%. During the same period, labor-intensive product exports totaled RMB 3.38 trillion, down 3%, accounting for 15.3% of total exports. Among these, clothing and accessories reached 905 billion yuan, down 3%; textiles amounted to RMB 844.19 billion, up 1.8%; and plastic products totaled RMB 614.55 billion, down 0.1%. Agricultural product exports reached RMB 598.98 billion, up 2%.

V. Import Prices of Major Commodities Decline, While Import Value of Machinery and Electrical Products Increases

In the first ten months, China imported 1.029 billion tons of iron ore, up 0.7%, with the average import price falling by 10.7%; crude oil imports reached 471 million tons, up 3.1%, with the average price declining by 12.1%; coal imports totaled 388 million tons, down 11%, with the average price dropping by 24.5%; natural gas imports totaled 103 million tons, down 6.2%, with the average price falling 8.8%; soybean imports reached 95.682 million tons, up 6.4%, with the average price declining 11.1%; refined oil imports amounted to 34.193 million tons, down 16.3%, with the average price decreasing 4.6%. Additionally, imports of plastics in primary forms totaled 22.12 million tons, down 7.6%, with the average price falling 0.6%; unprocessed copper and copper products reached 4.456 million tons, down 3.1%, with the average price rising 5.7%. During the same period, imports of mechanical and electrical products amounted to 6.05 trillion yuan, up 5.5%.

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