From the perspective of trade partners, the diversified pattern of China's foreign trade continued to be consolidated in the first two months. Specifically, the total trade volume between China and ASEAN was 1.24 trillion yuan, increasing by 20.3% year-on-year. ASEAN remained China's largest trading partner. The total trade volume between China and the EU was 998.94 billion yuan, increasing by 19.9% year-on-year. Bilateral trade exchanges continued to deepen. The total trade volume between China and the United States was 609.71 billion yuan, decreasing by 16.9% year-on-year, showing a phased fluctuation. During the same period, China's total imports and exports to the countries participating in the "Belt and Road Initiative" amounted to 4.02 trillion yuan, increasing by 20%. Trade cooperation under the "Belt and Road" initiative continued to release benefits.
The export of key products is on the rise, and the Textile and Garment City is contributing to the growth of foreign trade.
From the perspective of key export commodities, in terms of exports, the structure of our country's export goods has continued to improve in the first two months. The export of various goods has shown a favorable growth trend. Among them, the export of mechanical and electrical products reached 2.89 trillion yuan, increasing by 24.3% year-on-year, accounting for 62.5% of the total export value, becoming the core driving force for export growth; the export of labor-intensive products was 702.67 billion yuan, increasing by 15.6% year-on-year, maintaining a steady growth momentum; the export of agricultural products was 120.01 billion yuan, increasing by 9.7% year-on-year, and the export categories have been continuously enriched.
As the core hub of China's textile trade, Zhejiang Shaoxing China Textile City has performed exceptionally well in this round of trade growth, further contributing to the favorable trend of labor-intensive product exports. As the largest and most comprehensive textile distribution center in the world, China Textile City, leveraging its local mature textile industrial cluster, complete logistics distribution system, and profound industrial heritage, has maintained a steady growth trend in textile exports in the first two months, forming a good response with the overall growth rate of labor-intensive products in China. Its export products cover various categories such as knitted printed fabrics, functional fabrics, and household items. The quality and added value of its products have continued to improve, and they are mainly sold to ASEAN, the European Union, and countries and regions along the "Belt and Road Initiative". Among them, Southeast Asian countries such as Malaysia and Thailand, due to their close trade ties, have become popular export destinations for textile products from China Textile City.
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