From January to August this year, the total export volume of US agricultural products to China exceeded 23.47 billion US dollars, accounting for about 16.7% of the total US agricultural exports. It was $20.34 billion in the same period last year, up 15.4% year-on-year. Moreover, during the first half of this year, China’s imports of US agricultural products surpassed the full-year totals in 2018 and 2019.
According to the national CPI (consumer price index) data released by the National Bureau of Statistics of China on the 14th, the CPI rose by 2.8% year on year in September, while pork rose by 36.0%. Some Chinese experts predict that China’s pork imports will continue to grow steadily in the fourth quarter as the Chinese New Year (Jan. 22) approaches, which is earlier than in previous years, and the market will pick up more and more clearly.
From January to September, China imported 1.018 million metric tons of poultry meat and miscellaneous mince, down 5.9% year-on-year, but import value rose 24.8% year-on-year due to rising global chicken prices. From the perspective of the import market, the US remained the second largest source of imports in the first three quarters, accounting for 17.2%.
China’s imports and exports were valued at US$4.29 trillion in the first three quarters of the year, up 9.9% from a year ago, data from the General Administration of Customs showed on the 24th. The exports increased 13.8% year-on-year to US$2.44 trillion, while the imports totaled US$1.85 trillion, rising 5.2% on a yearly basis.
China’s GDP grew by 3.9% year-on-year in the third quarter, up from 0.4% in the second quarter, according to data from the National Bureau of Statistics of China. Meanwhile, in the first three quarters, China’s GDP grew by 3% year-on-year to US$12 trillion, up from a 2.5% rise in the first half, the bureau said.