China's agricultural trade deficit widens

In China, the agricultural trade deficit increased in the first 5 months of 2020, up by 20.6% over 1 year.

 

 

 

According to the Ministry of Agriculture and Rural Affairs, China's agricultural trade recorded a deficit of $36.67 billion in the first 5 months of 2020. Up by 20.6% year on year, according to the official statistics.

 

 

 

Imports of agricultural products increased by 8.8% year-on-year to $65.98 billion, while exports fell by 3% to $29.31 billion. The ministry said cereal imports rose by 18.1% year-on-year to 9.34 million tonnes during the period.

 

 

 

The total volume of trade in agricultural products increased by 4.9% year-on-year to reach $95.29 billion during the period January to May.

 

 

 

Also of note, fruit exports increased 18.9% to $2.51 billion and vegetable exports increased 4.6% from last year.