In the first two months of this year, what was the situation of China's foreign trade import and export?The General Administration of Customs released relevant data on March 7, let's take a look.
According to customs data, from January to February this year, the total value of China's foreign trade imports and exports was 618 trillion yuan, a slight decrease of 08%。Among them, export 349 trillion yuan, an increase of 09%；Import 269 trillion yuan, down 29%；* The surplus reached 810.9 billion yuan, an increase of 376%。
If converted into US dollars, the total value of China's foreign trade imports and exports is 954$400 million, down 83%。Of these, exports were 538$500 million, down 68%；Imports were 415$900 million, down 102%。
Affected by the Spring Festival holiday, China's foreign trade import and export was affected to a certain extent in January, but with the resumption of work and production in all walks of life in February, the foreign trade industry also ushered in a strong recovery. In February, China's manufacturing purchasing managers' index (PMI) reached 526%, the highest level in nearly 10 years, shows the strong resilience of China's economy.
In the commodity structure of China's foreign trade exports, mechanical and electrical products still occupy a dominant position, and from January to February this year, the proportion of exports of mechanical and electrical products was 586%, up to 204 trillion yuan, a slight increase of 04%。Among them, the export of high value-added products such as mobile phones and automobiles increased by 10% and 78% respectively, showing the upgrading of China's manufacturing industry. Exports of low-end products such as automatic data processing equipment fell by 26%, affected by competition in the international market.
In addition, the export of labor-intensive products has also shown a downward trend, from January to February this year, the export of labor-intensive products was 573.3 billion yuan, a year-on-year decrease of 74%, accounting for 164%。Among them, the export of traditional export products such as clothing and textiles has declined. This is partly due to low-cost competition in emerging markets such as Southeast Asia, and on the other hand, due to the transfer of orders from developed markets such as Europe and the United States.
In the commodity structure of China's foreign trade imports, the import volume of raw materials and energy products has changed differently. From January to February this year, the import volume of raw materials such as iron ore and coal has increased, but the average import price has declined, reflecting that China's demand for raw materials is still strong, but the surplus of the international market has led to a decline in the import volume of energy products such as oil and natural gas, but the average import price has been reduced, reflecting China's energy conservation and transformation, as well as the tight supply and demand in the international market
In addition, the import of high-end products such as electromechanical, integrated circuits, and automobiles has also shown a downward trend, and from January to February this year, the import of mechanical and electrical products fell by 49%, integrated circuit imports fell 119%, and car imports fell by 30%. On the one hand, this is due to the increase in China's own production capacity, and on the other hand, it is due to the uncertainty of the international market and the impact of friction.
In the regional structure of China's foreign trade, ASEAN, the European Union, the United States, Japan, South Korea, etc. are still China's main partners, from January to February this year, China and these five regions accounted for 674%。Among them, ASEAN has become China's largest partner, with a total amount of 951.9 billion yuan, a year-on-year increase of 96%, accounting for 154%。Our exports to ASEAN increased by 179%, imports increased by 08%。
The European Union is China's second largest partner, with a total of 851 billion yuan, down 2 percent year-on-year6%, accounting for 138%。China's exports to the EU fell by 5%, and imports increased by 04%。
The United States is China's third largest partner, with a total of 702.9 billion yuan, down 10 percent year-on-year6%, accounting for 114%。China's exports to the United States fell by 15%, and imports increased by 28%。China's surplus with the United States reached 285.2 billion yuan, which is China's largest surplus.
Japan is China's fourth largest partner, with a total of 344.9 billion yuan, down 4 percent year-on-year7%, accounting for 56%。China's exports to Japan increased by 67%, imports fell by 16%. China's surplus with Japan reached 58.1 billion yuan, in stark contrast to the deficit in the same period last year.
South Korea is China's fifth largest partner, with a total of 329.6 billion yuan, down 34%, accounting for 53%。Our exports to South Korea fell by 24%, imports fell 43%。China's ** deficit with South Korea reached 108.4 billion yuan, which is the largest ** deficit in China.
From the above data, it can be seen that the overall trend of China's foreign trade import and export is steady progress, structural optimization, and quality improvement. However, it also faces some challenges and risks, such as the instability of the international market, the rise of protectionism, the competitive pressure of low-end manufacturing, and the difficulty of innovation in high-end manufacturing. Therefore, China's foreign trade industry should continue to adhere to open cooperation, promote facilitation, enhance competitiveness, expand diversified markets, promote balance, and achieve high-quality development.