China's farm produce trade deficit expands in Q1

Source: Xinhua | 2020-05-18

China's agricultural products trade reported a deficit of 20.94 billion U.S. dollars in the first quarter (Q1) of 2020, up 23.5 percent year on year, official statistics showed.

Imports increased by 8.8 percent year on year to 37.31 billion U.S. dollars while exports went down 5.7 percent to 16.37 billion U.S. dollars, according to statistics released by the Ministry of Agriculture and Rural Affairs.

Total farm produce trade volume rose 3.9 percent year on year to 53.68 billion U.S. dollars in the first three months.

Total imports of corn grew 27.3 percent year on year to 1.25 million tonnes in Q1 while imports of pork reached 928,000 tonnes, up 180 percent year on year.