The United States remains the largest single market for China’s exports in the first eight months of 2019, the latest data shows.
China’s General Administration of Customs on Sunday released data showing its total imports and exports with the United States valued at $47.7 billion in August, bringing the combined value in the first eight months to $355.6 billion, a decrease of 13.9% from a year earlier.
China exported $275.5 billion to the United States in the January-August period, down 8.9% year on year, but that figure still makes the United States the single largest market for China.
The second largest single place for Chinese goods was Hong Kong with an export value of $175.6 billion and the third was Japan with $93.3 billion.
Meanwhile, China’s imports from the United States in the same period were $80.1 billion, representing a fall of 27.5% from a year earlier.
As a result, China still ran a trade surplus of $195.5 billion over the United States in the first eight months of this year, including $27 billion from August.
Data shows China’s global exports increased 0.4% on year at $1,607 billion in January-August, while imports were down 4.6% to $1,347.8 billion, making a surplus of $259.3 billion.