According to the Customs, from January to May 2024, China’s import and export value of agricultural products amounted to 131.25 billion USD, down by 6.7% y/y. Among that, the export value was 39.86 billion USD, up by 0.4%. The import value was 91.39 billion USD, down by 9.5%. Trade deficit reached 51.54 billion USD, down by 16%.

In May 2024, China’s import and export value of agricultural products amounted to 28.34 billion USD, down by 8.6% y/y. Among that, the export value was 8.56 billion USD, up by 5.4%. The import value was 19.78 billion USD, down by 13.5%. Trade deficit reached 11.22 billion USD, down by 24%.