With the continuous decline of 6 months, China's exports finally reversed the trend of the first and achieved positive growth in November. However, a Japanese** company has put forward a different interpretation of this, claiming that the increase in exports has been achieved through lower commodity prices. So, what is the truth?
First, let's take a look at the November export data. According to the data released by the General Administration of Customs, pressRMBCalculation, China's exports reached 21 trillion yuan, a year-on-year increase of 17%；In dollar terms, exports reached $291.9 billion, a year-on-year increase of 05%。That is, either in accordance withRMBStill denominated in US dollars, China's exports have grown.
Since the beginning of 2023, ** has been reportingPortsContainersAccumulation, foreign trade is not easy to do, it is expected that exports will appearNegative growth。However, the export data for January and February still maintained an upward trend, and there were significant increases in March and April, and the situation is very good. However, exports began to turn around in MayNegative growth, and continued until October, falling for 6 consecutive months. It wasn't until November that we saw the light of day for export growth.
Why was it possible to increase exports in November?There are two main reasons. On the one hand, China's foreign trade structure continues to upgrade and optimize. In the past, China's exports were mainly clothing, home appliances, furniture and other "old three" consumer goods, and now electric manned vehicles, lithium batteries, solar cells and other "new three" have become the new darlings of exports. In November, the export value of automobiles increased by 27% year-on-year9%, and the export value of mobile phones increased by 54 percent year-on-year6%，Integrated circuitsExports increased by 12% year-on-year. And the growth is most noticeableships, up to 1157%。On the other hand, the export base was low in the same period last year, when exports fell by 87%, a large decline.
However, Nikkei Chinese Network gives a different interpretation from the above data. They said that 71 percent of the 17 categories saw price reductions, boosting exports by lowering selling prices. They pointed out that the export unit price of bags and shoes has been reduced by 20%, the average price of household appliances has decreased by 10%, and the export unit price of automobiles has even dropped by 10%. As can be seen from the volume and value table of key export commodities in November, although the number of bags and bags exports increased by 17 percent year-on-year39%, but exports fell by 5%;The number of home appliance exports increased by 24 percent year-on-year25%, but the export value increased by 118%；The number of automobile exports increased by 41 percent year-on-year48%, and the export value increased by 27 percent year-on-year9%。Not only that, aquatic productsRare earths, fertilizers, steel and other commodities export volume growth rate is higher than the export growth rate, which indicates that the unit price of commodities has indeed declined.
This price reduction phenomenon is actually a normal business strategy adopted by enterprises in order to cope with the lack of external demand and increasingly fierce competition. By lowering the selling price, we can reduce inventory and expand market share, so as to ensure the survival and development of enterprises. As suchPinduoduoJust like sweeping the European and American markets through low prices, the price reduction strategy is correct. Although some commodities are exported at reduced prices, this is also a response to the current foreign trade situation.
In addition to the price reduction of commodities, China's exports also benefit from the upgrading and optimization of the foreign trade structure. By expanding our exports to the U.S., we have succeeded in achieving positive growth in our exports to the U.S., up 73%, for the first time since July 2022. And exports to the EU are still presentNegative growth, down 14 percent year-on-year5%。In addition, our exports benefited from the expansion of markets in Russia, Africa, Latin America and Central Asia, all of which achieved good growth.
Despite the current global ** situation, according to Reuters, many well-knownEconomyAccording to the results of the interview, our country's exports will continue to grow in 2024. This is also in line with the country's efforts in foreign cooperation and the continuous improvement of China's foreign trade situation.
To sum up, although China's exports have finally achieved positive growth after falling for 6 consecutive months, there is controversy about whether it is exchanged for commodity price reduction. Although some commodity exports do have price reductions, this is the normal business strategy adopted by enterprises under the current foreign trade situation. At the same time, China's exports have also benefited from the upgrading and optimization of the foreign trade structure, as well as the development of market diversification. In the current complex international environment, the improvement of China's foreign trade situation is hard-won, and it also shows ChinaEconomyresilience and adaptability. As the country further strengthens foreign cooperation, it is believed that China's foreign trade situation will be further improved.