From January to May, China’s imports and exports to the United States fell by 9.6%
Author:
SCCB
Time:
01-01
From:
The internet

According to customs statistics, in the first five months of this year, China imported 49.57 billion U.S. dollars from the United States, down 29.6% year-on-year, and has fallen for five consecutive months since this year. Gao Feng believes that due to the unilateral escalation of trade frictions in the United States, the competitive advantage of US products has declined, enterprises are expected to be unstable, and normal business activities are disrupted. This situation once again shows that there is no winner in the trade war and it may have a declining impact on the US economy and the world economy.


At the same time, on the whole, China's foreign trade import and export still maintains a steady and promising development momentum. According to customs statistics, China's imports and exports in the first five months were 12.1 trillion yuan, a year-on-year increase of 4.1%. Among them, the export was 6.5 trillion yuan, an increase of 6.1%; the import was 5.6 trillion yuan, an increase of 1.8%; the surplus was 893.36 billion yuan, an increase of 45%.


Gao Feng said that since the beginning of this year, in the face of the complex external environment, all localities and departments have made every effort to create a business environment of legalization, internationalization and convenience. The vast number of foreign trade enterprises have faced difficulties and innovated.


Gao Feng believes that China's foreign trade mainly reflects five characteristics in January-May:


First, the international market layout is more diverse. The scale of trade with the countries along the “Belt and Road” has further expanded, with imports and exports increasing by 9% and the proportion increasing to 28.8%. Imports and exports with the EU, ASEAN, Russia and Brazil increased by 11.7%, 9.4%, 10.0% and 11.2% respectively. During the same period, imports and exports to the United States fell by 9.6%.


Second, private enterprises accounted for more than 50% of exports. The export of private enterprises was 3.28 trillion yuan, an increase of 13.8%, accounting for 3.2 percentage points to 50.4%. Foreign-invested enterprises exported 2.58 trillion yuan, an increase of 0.5%. State-owned enterprises exported 637.51 billion yuan, down 5.9%.


Third, the commodity structure continues to be optimized. The export of mechanical and electrical products was 3.8 trillion yuan, an increase of 5.1%, accounting for 58.4% of the total export value. Among them, exports of integrated circuits, motors and generators increased by 25.1% and 7.6% respectively. Seven major labor-intensive products maintained a competitive advantage, with exports of 1.21 trillion yuan, an increase of 7.2%. Among them, toys, plastic products and furniture increased by 30.1%, 18.6% and 9.6% respectively.


Fourth, the general trade exports grew rapidly. The general trade export was 3.82 trillion yuan, an increase of 10.3%, accounting for an increase of 2.1 percentage points to 58.8% of processing trade exports of 1.92 trillion yuan, down 1.5%.


Fifth, the domestic regional layout is more balanced. Exports in the central and western regions increased by 14.7%, accounting for an increase of 1.3 percentage points to 17.6% in the eastern region, with an increase of 4.4% in exports, accounting for 82.4%.

News
China foreign trade import and export increased by 4.1% year on year
At the peak of this year, in the face of the complicated external environment, a...
In this five months, China’s total import and export value was 12.1 trillion yuan
CCTV News: Today (10th) morning, the General Administration of Customs announced...
From January to May, China’s imports and exports to the United States fell by 9.6%
According to customs statistics, in the first five months of this year, China im...