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In July, China’s total import and export value was 2.12 trillion yuan, a decrease of 8.8%. Among them, exports 1.19 trillion yuan, down 8.9%; imports 930.2 billion yuan, down 8.6%; trade surplus 263 billion yuan, narrowing 10% (below).
In the first 7 months, China’s foreign trade import and export mainly exhibited the following characteristics:
General trade exports have increased, and the proportion of imports and exports has increased. In the first seven months, China's general trade import and export amounted to 7.53 trillion yuan, a decrease of 6.8%, accounting for 55.3% of my total value of foreign trade, up by 0.3 percentage point from the same period of last year. Among them, exports were 4.22 trillion yuan, an increase of 3.9%, accounting for 54.4% of the total value of exports; imports were 3.31 trillion yuan, a decrease of 17.7%, accounting for 56.4% of the total value of imports; general trade accounted for a surplus of 901.47 billion yuan, only the same period last year. 30.01 billion yuan.
During the same period, China's processing trade import and export amounted to 4.21 trillion yuan, a drop of 9.3%, accounting for 30.9% of my total foreign trade value, which was 0.7 percentage points lower than the same period of last year. Of which, exports were 2.68 trillion yuan, a decrease of 8.6%, accounting for 34.6% of total exports; imports were 1.53 trillion yuan, a decrease of 10.3%, accounting for 25.9% of the total value of imports; trade surplus was 1.15 trillion yuan, narrowing 6.3 %. In addition, China's import and export of special customs supervision methods amounted to 1.46 trillion yuan, a decrease of 8.8%, accounting for 10.7% of my total value of foreign trade. Of which exports 526.73 billion yuan, down 4.7%, accounting for 6.8% of total exports; imports 932.3 billion yuan, down 10.9%, accounting for 15.8% of total imports.
Exports to the United States and ASEAN maintained growth, and exports to the European Union and Japan decreased; imports from major trading partners both declined. In the first seven months, the EU was China’s largest trading partner. The value of China-EU trade totaled 1.98 trillion yuan, a decrease of 7.6%, accounting for 14.5% of my total foreign trade value. Among them, China's exports to the EU were 1.22 trillion yuan, a decrease of 4.4%; imports from the EU were 757.32 billion yuan, a decrease of 12.4%; and the EU's trade surplus was 460.7 billion yuan, an increase of 12.5%. The United States is China’s second largest trading partner. The total trade value between China and the United States is 1.92 trillion yuan, an increase of 2.7%, accounting for 14.1% of my total foreign trade value. Among them, China’s exports to the United States were 1.4 trillion yuan, an increase of 7.2%; imports from the United States were 526.9 billion yuan, a decrease of 7.5%; and the trade surplus with the United States was 870.48 billion yuan, an increase of 18.6%.
In the first seven months, ASEAN was China’s third largest trading partner. The total trade value with ASEAN was 1.62 trillion yuan, an increase of 1.3%, accounting for 11.9% of my total value of foreign trade. Among them, my exports to ASEAN were 968 billion yuan, an increase of 7.9%; imports from ASEAN were 654.62 billion yuan, a decrease of 7.2%; and the trade surplus with ASEAN was 313.38 billion yuan, an increase of 63.5%. Japan is China’s fifth largest trading partner. The total value of Sino-Japanese trade is 976.7 billion yuan, down 11.1%, accounting for 7.2% of my total foreign trade value. Among them, the export to Japan was 471.06 billion yuan, a decrease of 11.1%; the import from Japan was 505.64 billion yuan, a decrease of 11.1%; the trade deficit with Japan was 34.58 billion yuan, a decrease of 11.1%.
In the first seven months, the total value of domestic and Hong Kong trade was 1.06 trillion yuan, a decrease of 10.3%, accounting for 7.8% of the total value of the mainland's foreign trade. Among them, exports to Hong Kong stood at 1.03 trillion yuan, a decrease of 10.2%; imports from Hong Kong reached 33.87 billion yuan, a decrease of 13.5%; trade surplus with Hong Kong was 993.22 billion yuan, narrowing 10.1% (Table 1).
The proportion of import and export of private enterprises increased, and exports increased. In the first seven months, the import and export of private enterprises was 4.93 trillion yuan, a decrease of 1.7%, accounting for 36.2% of my total value of foreign trade, up 2.1 percentage points from the same period of last year. Among them, exports of 3.46 trillion yuan, an increase of 4.6%, accounting for 44.6% of total exports; imports of 1.47 trillion yuan, a decrease of 13.8%, accounting for 25% of the total value of imports. In the same period, foreign-invested enterprises' import and export amounted to 6.37 trillion yuan, a decrease of 5.6%, accounting for 46.7% of my total foreign trade value. Among them, exports were 3.45 trillion yuan, a decrease of 4.9%, accounting for 44.4% of total exports; imports were 2.92 trillion yuan, a decrease of 6.5%, accounting for 49.7% of the total value of imports.
In addition, state-owned enterprises imported and exported 2.33 trillion yuan, a decrease of 13.2%, accounting for 17.1% of my total foreign trade value. Among them, exports were 8480.2 billion yuan, a decrease of 4.4%, accounting for 10.9% of the total value of exports; imports were 1.49 trillion yuan, a decrease of 17.6%, accounting for 25.3% of the total value of imports.
Imports and exports of Guangdong, Jiangsu, and other major provinces and cities did not fluctuate, and exports from Guangdong, Zhejiang, and Henan increased.
In the first seven months, the total value of imports and exports in Guangdong continued to rank first in the country, at 3.39 trillion yuan, down 1.8%, accounting for 24.9% of the total value of imports and exports. In the same period, the total value of imports and exports in Jiangsu, Shanghai, and Zhejiang were 1.91 trillion, 1.56 trillion, and 1.2 trillion yuan, respectively, down 4.8%, 3.6%, and 3.3%. In addition, the total value of imports and exports in Beijing (including the central government) was 1.15 trillion yuan, a drop of 24%; Shandong was 829.55 billion yuan, a decrease of 16.6%; Fujian was 592.84 billion yuan, a decrease of 2.8%. The total import and export value of the above 7 provinces and cities accounted for 78% of the total value of imports and exports, up 0.3 percentage points over the same period of last year.
From the perspective of exports, in the first seven months, Guangdong exported 2.12 trillion yuan, an increase of 3.3%. Jiangsu exports 1.17 trillion yuan, down 2.8%; Zhejiang 944.34 billion yuan, up 0.4%; Shanghai 6785.2 billion yuan, down 6.7%; Shandong 482 billion yuan, down 2.2%; Fujian 39.065 billion yuan, up 0.9%; Beijing 182.84 billion Yuan, down 16.7%. During the same period, Henan's exports increased by 17.6%.
Exports of mechanical and electrical products increased, and traditional labor-intensive products declined. In the first 7 months, China's export of mechanical and electrical products was 4.44 trillion yuan, an increase of 1.2%, accounting for 57.2% of the total value of exports. Among them, electrical and electronic products exports 1.94 trillion yuan, an increase of 4.1%; machinery and equipment 1.29 trillion yuan, a decrease of 6.6%. In the same period, garment exports reached 570.99 billion yuan, a drop of 6.4%; textiles reached 382.55 billion yuan, a decrease of 1.7%; footwear was 190.17 billion yuan, a decrease of 1.9%; furniture was 188.37 billion yuan, an increase of 7.6%; plastic products were 129.33 billion yuan, an increase of 2.3%; Luggage 99.89 billion yuan, an increase of 8%; toys 46.5 billion yuan, an increase of 11%; the above-mentioned 7 categories of labor-intensive products total exports of 1.61 trillion yuan, down 1.3%, accounting for 20.7% of total exports. In addition, 19.573 million tons of fertilizers were exported, an increase of 54.7%; steel was 62.132 million tons, an increase of 26.6%; and the number of automobiles was 445,000, a decrease of 13.6% (Table 2).
Imports of major commodities such as crude oil, grain and refined oil increased, iron ore and coal imports decreased, and prices of major imported commodities generally fell. In the first 7 months, China imported 539 million tons of iron ore, a slight drop of 0.1%, the average import price was 389 yuan per ton, down 43.8%, crude oil was 194 million tons, an increase of 10.4%, and the average import price was 2627.9 yuan per ton. It fell 45.3%; coal was 121 million tons, a decrease of 33.7%, the average import price was 387.8 yuan per ton, down 20.1%; refined oil was 18.173 million tons, up 6%, and the average import price was 3112.2 yuan per ton, down 37.3%; The shape of plastic was 15,296,000 tons, an increase of 2.3%, the average import price was RMB 10,800 per ton, down 13.5%; the steel was 7,699,000 tons, down by 9.1%; the average import price was RMB 7142.4 per ton, down by 6.9%; Copper and copper were 2.593 million tons, a decrease of 9.5%, and the average import price was 39,600 yuan per ton, down 13%.
In addition, the import of grain was 72.568 million tons, an increase of 22.4%; of which 44.456 million tons of soybeans, an increase of 7.1%, the average import price of 2719 yuan per ton, down 25%. The import of machinery and electronic products was 2.77 trillion yuan, a drop of 5%; of which 630,000 were automobiles, a decrease of 23.9% (Table 3).
China’s foreign trade export leader index continued to decline. In July, China's foreign trade export leader index was 34.1, down 0.7 from June and falling for five consecutive months, indicating that China's export pressure in the third quarter of this year is still relatively large. According to online questionnaire survey data, the new export orders index fell by 0.4 to 35.8 in the month, but the export manager index and export manager confidence index were 36.6 and 42.3, respectively, both up slightly by 0.1 from last month.
In the first 7 months, the total import and export value of China was 13.63 trillion yuan.
On August 8, the General Administration of Customs announced the import and export of China's foreign trade in the first seven months of this year. According to customs statistics, in the first seven months of this year, China’s total import and export value was 13.63 trillion yuan, which was 7.3% lower than the same period of last year (the same below). Among them, exports were 7.75 trillion yuan, a slight drop of 0.9%; imports were 5.88 trillion yuan, a decrease of 14.6%; and the trade surplus was 1.87 trillion yuan, which was doubled.