The General Administration of Customs has just released its foreign trade data for November, with exports increasing by 05%, finally reversed the trend of negative growth for more than half a year, and increased year-on-year, and reached 65% increase. Seeing this data, I finally breathed a sigh of relief, and exports did not continue to deteriorate. Next, let's analyze the detailed data to see if exports really improved in November.
Looking at the overall figures, exports increased slightly and imports fell slightly, which seems to be just the opposite of October, but the month-on-month trend is increasing.
From the year-on-year perspective of sub-categories, the number of most categories is increasing, but looking at the amount again, it is found that the amount of most categories is declining, so the previous situation continued in November, and almost all categories were exported **year-on-year**. Looking at the month-on-month comparison, most of the categories have shown an increasing trend in both quantity and amount, with ** increasing and decreasing.
Among them, the most important mechanical and electrical products and high-tech products have achieved year-on-year growth, mechanical and electrical products since September from a monthly average of more than $60 billion to $80 billion, after the decline to more than $70 billion in October, and began to grow slightly in November. After the LCD panel lasted for more than half a year, the export of ** in November seems to have dropped a lot.
Overall, exports are not much of a problem, and the previous data performance is mainly affected by the exchange rate and international demand.
On a country-by-country basis, exports to the EU fell sharply in November, with a certain decline to ASEAN, but 73% growth. The data on the EU and ASEAN should actually be caused by the soaring winter fuel ** in Europe due to the Russia-Ukraine conflict last year, and if you look at the month-on-month comparison, exports to the EU in November were basically unchanged, but exports to ASEAN increased by 127%, is there anyone who understands this growth to explain it?Could it be the impact of the European and American shopping seasons?It is also worth noting that exports to Latin America and Africa have achieved year-on-year growth, which is due to the improvement of the economies of these countries after the US dollar stopped raising interest ratesExports to the U.S. increased month-on-month and year-on-year, and imports from the U.S. increased by 13 percent in November4%, this is the result of the previous meeting, but I don't know if it can be sustained. Exports to Russia returned to growth in November after a sudden downward trend in October. Also What happened to imports and exports to Canada in November?
Overall, there have been some very positive changes in exports in November, and from the data point of view, there are not only some improvements in relations, but also improvements in international demand, and there should be some positive impact on the economy in the future, and I hope this trend can continue.