SunSirs: Imports of Commodities Such as Energy Reached 1.429 Billion Tons in the First Half of the Year

According to China Chemical Information, the State Council Information Office held a press conference on July 14 to present data on imports and exports for the first half of 2026. Wang Jun, Deputy Director of the General Administration of Customs, stated that in 2026, my country adhered to the general principle of pursuing progress while ensuring stability and accelerated the construction of a new development pattern. The national economy demonstrated resilience and a robust upward trend, while foreign trade showed strong growth momentum and steady performance.

Customs statistics show that in the first half of the year, my country's total import and export value of goods reached RMB 25.47 trillion, a year-on-year increase of 16.9%. Of this total, exports amounted to RMB 14.73 trillion (up 13.4%) and imports to RMB 10.74 trillion (up 22.1%).

Wang Jun summarized the situation by highlighting six key characteristics.

First, the growth of imports and exports accelerated. In the second quarter, the total import and export value reached RMB 13.61 trillion, up 18.4% year-on-year—the highest quarterly growth rate since the third quarter of 2021. Specifically, the figure for June was RMB 4.78 trillion, a year-on-year increase of 24.2%, marking the 17th consecutive month of growth.

Second, market diversification continued to strengthen. In the first half of the year, my country's imports and exports with Belt and Road partner countries totaled RMB 12.97 trillion, up 14.8% and accounting for 50.9% of the total foreign trade value. Trade with neighboring countries reached RMB9.44 trillion, an increase of 20.6%. Trade with Latin America and Africa grew by 16.2% and 19.6% respectively, while trade with the European Union rose by 10.2%.

Third, various types of business entities showed positive growth momentum. In the first half of the year, imports and exports by private enterprises totaled RMB 14.53 trillion (up 17%), accounting for 57% of the total foreign trade value; foreign-invested enterprises recorded RMB 7.39 trillion (up 17.1%); and state-owned enterprises recorded RMB 3.5 trillion (up 16.8%).

Fourth, all regions achieved growth in imports and exports. In the first half of the year, the total import and export value for my country's eastern region exceeded RMB 20 trillion, an increase of 16.5%, accounting for 78.8% of the total foreign trade value. The western, central, and northeastern regions recorded growth rates of 20.3%, 20%, and 8.6%, respectively.

Fifth, the structure of export products was further optimized. In the first half of the year, my country’s exports of electromechanical products reached RMB 9.36 trillion—up 20.1%—accounting for 63.5% of the total export value, an increase of 3.5 percentage points year-on-year. Exports of high-tech products totaled RMB 3.26 trillion, a rise of 39%. Exports of products under independent brands grew by 25.4%, with their share rising by 2.4 percentage points.

Sixth, the growth rate of imports outpaced that of exports. During the first half of the year, the growth rate of imports exceeded that of exports by 8.7 percentage points, fostering balanced development in foreign trade. Specifically, imports of bulk commodities such as energy and metal ores totaled 1.429 billion tons, up 3.4%; imports of electromechanical products reached RMB4.41 trillion, up 28%; and imports of agricultural products amounted to RMB 768.48 billion, up 8.6%.

"Overall, my country's foreign trade maintained a positive momentum in the first half of the year, yielding notable results in stabilizing scale and optimizing structure. However, we must also recognize that global inflationary pressures persist, trade barriers are increasing, geopolitical conflicts are frequent, and global production and supply chains remain under strain; consequently, stabilizing foreign trade in the second half of the year faces significant risks and challenges," said Wang Jun.

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