According to the website of the ministry of commerce, the head of the ministry of commerce's service and trade department introduced the overall situation of China's service import and export in the january-october period of 2019 on Dec. 5. Total imports and exports of services totaled 4439.27 billion yuan (RMB, the same below), up 2.6% year on year. Among them, exports were 15.7723 trillion yuan, up 9.0% year on year; Imports totaled 2.862.04 trillion yuan, down 0.7% year on year. The main features are as follows:
The services trade deficit continued to narrow. From January to October, China's service sector production index increased by 7% year-on-year, laying a good foundation for the rapid growth of service exports, which accounted for 35.5% of service imports and exports, up 2.1 percentage points year-on-year. Overall, the growth rate of service exports was 9.7 percentage points higher than the growth rate of imports, and the service trade deficit fell 10.4 percentage points to 1284.81 billion yuan, a year-on-year decrease of 149.49 billion yuan.
The value of trade in services has increased. From January to October, China's imports and exports of knowledge-intensive services reached 1513.56 billion yuan, up 10.7% year-on-year, 8.1 percentage points higher than the overall growth rate of service imports and exports, accounting for 34.1 percent of the total value of service imports and exports, up 2.5 percentage points year-on-year. Among them, the export of knowledge-intensive services was 795.98 billion yuan, up 13.0% year on year; Imports totaled 717.58 billion yuan, up 8.2% year on year. In terms of specific sectors, personal cultural and entertainment services, telecommunications, computer and information services, and financial services continued to grow rapidly, with import and export growth of 27.6 percent, 19.1 percent, and 14.8 percent, respectively.