Select Page

Despite a volatile year in 2018, China has witnessed a record-high foreign trade volume of $4.62 trillion last year and a reduction in trade surplus to the lowest level since 2013, which shows its economy’s vitality and resilience despite the lingering trade frictions with the US. Although last year’s overall trade surplus shrank, China’s trade surplus with the US still grew 17 percent year-on-year to $323.32 billion in 2018, the highest on record since 2006 – a situation that goes against US President Donald Trump’s vows to launch a trade war against China to reduce US trade deficit. Specifically, China’s exports to the US grew 11.3 percent year-on-year in 2018 to $478.4 billion in dollar-denominated terms, while imports from the US to China only rose 0.7 percent to $155 billion, according to data released by the General Administration of Customs. For the whole year, China’s foreign trade volume hit $4.62 trillion in dollar-denominated terms, up 12.6 percent year-on-year, with…