The latest data released by the State Statistic Bureau in October, 2014 showed that in the first three quarters, the import and export growth rose slightly, total imports and exports was RMB 19422.3 billion yuan equivalent to 3162.6 bilion dollars, increasing by 3.3% year on year with the growth rate rising by 2.1% than that in the first half year. Among them, the volume of export was RMB 10422.4 billion yuan equivalent to 1697.1 billion dollars, increasing by 5.1%; the volume of import was RMB 8999.8 billion yuan, equivalent to 1465.5 billion dollars, increasing by 1.3%. The imports offset the exports, and the favorable balance was RMB 1422.6 billion yuan equivalent to 231.6 billion dollars.
The favorable balance of trade in the third quarter reached record high of 127.2 billion dollars, and the present export situation was “stable but not strong”. The global economy slowed in the third quarter, RMB continued to appreciate since April, and the financing environment tended to be constrained, all of which would constrain the further export going strong.
It was worth mentioning that imports and exports in September had picked up substantially.