China's Agricultural Trade in the First Three Months of 2024

Source:Agricultural Trade Promotion Center, MARAWriter:
China's agricultural trade value decreased 7.4 percent year-on-year to $75.8 billion in the first three months of 2024. Exports decreased by 1.2 percent to $23.1 billion. Imports decreased by 9.9 percent to $52.7 billion. Trade deficit shrank by 15.7 percent to $29.6 billion.

The details are as follows:   

1. Cereals imports increased by 27.0 percent to 19.3 million tons and exports also decreased 1.2 percent to 0.3 million tons. Net imports increased by 27.6 percent to 19.0 million tons.    

2. Cotton imports grew by 2.5 times to 1.1 million tons. Cotton yarn imports increased by 45.9 percent to 0.4 million tons.    

3. Sugar imports increased by 27.1 percent to 1.2 million tons.    

4. Edible oilseeds imports decreased by 14.2 percent to 20.3 million tons while exports increased by 23.5 percent to 0.3 million tons.    

5. Edible vegetable oil imports decreased by 22.4 percent to 1.8 million tons, while exports also decreased by 15.1 percent to 41.0 thousand tons.   

6. Vegetables exports dropped by 6.4 percent to $4.3 billion and imports decreased by 2.8 percent to $0.3 billion. Trade surplus shrank by 6.7 percent to $4.0 billion.    

7. Fruits exports increased by 17.4 percent to $1.8 billion while imports increased by 10.4 percent to $5.2 billion. Trade deficit widened by 7.0 percent to $3.4 billion.    

8. Livestock products imports decreased by 19.4 percent to $9.9 billion while exports fell 0.7 percent to $1.4 billion. Trade deficit shrank by 21.9 percent to $8.5 billion.    

9. Fisheries and aquaculture products exports decreased by 7.5 percent to $4.6 billion, and imports decreased by 2.6 percent to $5.4 billion, resulting in a trade deficit widened by 39.1% to $0.8 billion.   

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