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China's Foreign Trade Is Picking Up! Exports Soared! Unblock And Lift Entry Restrictions

Sep 16, 2020

According to customs statistics, in the first eight months of this year, the total value of my country's import and export of goods trade was 20.05 trillion yuan, a decrease of 0.6% from the same period last year (the same below), and the rate of decline narrowed by 1.1 percentage points compared with the previous seven months. Among them, exports were 11.05 trillion yuan, an increase of 0.8%; imports were 9 trillion yuan, a decrease of 2.3%; the trade surplus was 2.05 trillion yuan, an increase of 17.2%.


In August, my country's foreign trade imports and exports reached 2.88 trillion yuan, an increase of 6%. Among them, exports were 1.65 trillion yuan, an increase of 11.6%; imports were 1.23 trillion yuan, a decrease of 0.5%; the trade surplus was 416.59 billion yuan, an increase of 74.4%.


General trade imports and exports increased and the proportion increased. In the first eight months, my country's general trade import and export amounted to 12.09 trillion yuan, an increase of 0.5%, accounting for 60.3% of China's total foreign trade value, an increase of 0.7% over the same period last year. Among them, exports were 6.59 trillion yuan, up 2.5%; imports were 5.5 trillion yuan, down 1.7%. In the same period, the import and export of processing trade was 4.68 trillion yuan, down 6.7%. Among them, exports were 2.97 trillion yuan, a decrease of 6.6%; imports were 1.71 trillion yuan, a decrease of 6.8%. In addition, my country's imports and exports through bonded logistics were 2.43 trillion yuan, an increase of 4.8%. Among them, exports were 828.55 billion yuan, an increase of 7.8%; imports were 1.6 trillion yuan, an increase of 3.3%.


Imports and exports to ASEAN, the European Union and Japan increased, while imports to the United States declined slightly. In the first eight months, ASEAN was China's largest trading partner. The total trade value between China and ASEAN was 2.93 trillion yuan, an increase of 7%, accounting for 14.6% of China's total foreign trade value. Among them, China's exports to ASEAN were 1.64 trillion yuan, an increase of 6.9%; imports from ASEAN were 1.29 trillion yuan, an increase of 7.1%; and the trade surplus with ASEAN was 344.34 billion yuan, an increase of 6.2%. The EU is China's second largest trading partner, with a total trade value of 2.81 trillion yuan with the EU, an increase of 1.4%, accounting for 14% of China's total foreign trade value. Among them, China’s exports to the EU were 1.72 trillion yuan, an increase of 5.3%; imports from the EU were 1.09 trillion yuan, a decrease of 4.1%; the trade surplus with the EU was 628.92 billion yuan, an increase of 26.9%. The United States is our third largest trading partner. The total value of Sino-US trade is 2.42 trillion yuan, down 0.4%, accounting for 12.1% of our total foreign trade value. Among them, China's exports to the United States were 1.87 trillion yuan, a decrease of 0.5%; imports from the United States were 549.32 billion yuan, an increase of 0.2%; the trade surplus with the United States was 1.32 trillion yuan, a decrease of 0.8%. Japan is China's fourth largest trading partner. The total value of China-Japan trade is 1.4 trillion yuan, an increase of 1%, accounting for 7% of China's total foreign trade value. Among them, exports to Japan were 638.72 billion yuan, an increase of 0.3%; imports from Japan were 766.06 billion yuan, an increase of 1.6%; the trade deficit with Japan was 127.34 billion yuan, an increase of 8.7%.


The import and export of private enterprises increased and their proportion increased. In the first eight months, the import and export of private enterprises was 9.21 trillion yuan, an increase of 8.5%, accounting for 45.9% of our total foreign trade value, an increase of 3.9 percentage points over the same period last year. Among them, exports were 6.07 trillion yuan, an increase of 8.3%, accounting for 54.9% of the total export value; imports were 3.14 trillion yuan, an increase of 8.9%, accounting for 34.9% of the total import value. In the same period, the import and export of foreign-invested enterprises was 7.74 trillion yuan, down 4.3%, accounting for 38.6% of China's total foreign trade value. Among them, exports were 4.01 trillion yuan, down 6.2%; imports were 3.73 trillion yuan, down 2.2%. In addition, the import and export of state-owned enterprises was 3.02 trillion yuan, down 13.2%, accounting for 15.1% of our total foreign trade value. Among them, exports were 944.7 billion yuan, down 10.5%; imports were 2.08 trillion yuan, down 14.4%.


Exports of mechanical and electrical products, textiles and plastic products increased, while exports of clothing declined. In the first eight months, my country exported 6.47 trillion yuan in mechanical and electrical products, an increase of 2.1%, accounting for 58.5% of the total export value. Among them, the export of automatic data processing equipment and its parts was 901.48 billion yuan, an increase of 8.4%; mobile phones were 488.73 billion yuan, an increase of 8.9%. In the same period, exports of textiles, including masks, were 737.55 billion yuan, an increase of 37.8%; clothing 581.33 billion yuan, a decrease of 10.2%; plastic products were 356.53 billion yuan, an increase of 14.5%; furniture 234.39 billion yuan, an increase of 1.6%; footwear was 152.4 billion yuan , Down 25.2%; toys 127.13 billion yuan, down 1%; luggage and bags, 88.74 billion yuan, down 26%. In addition, exports of steel products were 36.557 million tons, a decrease of 18.6%; automobiles (including chassis) were 607,000, a decrease of 25.4%.


Imports of iron ore, crude oil, coal, natural gas and soybeans increased in volume and prices fell. In the first eight months, China imported 760 million tons of iron ore, an increase of 11%, and the average import price was 652.4 yuan per ton, a decrease of 0.2%; crude oil was 368 million tons, an increase of 12.1%, and the average import price was 2306.4 yuan per ton, a decrease 30.1%; coal was 221 million tons, an increase of 0.2%, and the average import price was 493.5 yuan per ton, a decrease of 8.4%; natural gas was 65.068 million tons, an increase of 3.3%, and the average import price was 2450.1 yuan per ton, a decrease of 18.1%; soybeans were 64.739 million Ton, an increase of 15%, the average import price was 2718.8 yuan per ton, down 0.4%; the primary form of plastic was 26.234 million tons, an increase of 9.4%, and the average import price was 8753.5 yuan per ton, down 12.9%; refined oil was 20.768 million tons, Increased by 1.3%, the average import price was 2890.1 yuan per ton, down by 23.7%; steel was 12.189 million tons, an increase of 59.6%, and the average import price was 5915.1 yuan per ton, down by 27.6%; unwrought copper and copper materials were 4.272 million tons, An increase of 38.1%, the average import price was 43,000 yuan per ton, down 4.9%. In addition, imports of mechanical and electrical products were 4.05 trillion yuan, an increase of 2%. Among them, integrated circuits were 333.46 billion, an increase of 22.5%, valued at 1.51 trillion yuan, an increase of 15.3%; 515,000 automobiles (including chassis), a decrease of 26.6%, were worth 172.42 billion yuan, a decrease of 21.6%.

Source:https://www.up-resin.com/

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