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China's farm produce trade deficit expands in Q1

Updated: May 17,2020 04:29 PM    Xinhua

BEIJING — China's agricultural products trade reported a deficit of $20.94 billion 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 while exports went down 5.7 percent to $16.37 billion, 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 in the first three months.

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

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