China's service trade up in Q1
China's service trade up in Q1
China's service trade value grew 25.8 percent year-on-year in the first quarter of 2022, data from the Ministry of Commerce showed on Thursday. Total trade value stood at nearly 1.46 trillion yuan.
Service exports expanded 30.8 percent year-on-year to 713.98 billion yuan, and service imports were 743.01 billion yuan, up 21.3 percent from the year before.
The growth of service trade exports outpaced import growth by 9.5 percentage points, resulting in a 56.4 percent drop in the service trade deficit to 29.03 billion yuan from the same period last year.
Trade in knowledge-intensive services raked in 615.66 billion yuan, up 14.1 percent year-on-year.
