General Administration of Customs: The total value of China's foreign trade import and export in the first quarter of this year is 7.01 trillion yuan.
* : * : admin * : 2019-06-04 9:55:13 * : 46
According to customs statistics, the total value of China's foreign trade imports and exports in the first quarter of this year was 7.01 trillion yuan, an increase of 3.7% over the same period last year. Among them, exports increased by 6.7%, imports by 3.24 trillion yuan, increased by 0.3%, trade surplus by 52.96 billion yuan, expanded by 75.2%. In the first quarter, the total value of China's foreign trade imports and exports decreased by 1.5% in terms of US dollars. Among them, exports increased by 1.4% to 55.17 billion US dollars, imports decreased by 4.8% to 47.54 billion US dollars, and trade surplus increased by 70.6% to 76.31 billion US dollars.
Our analysis shows that China's foreign trade development in the first quarter has the following nine characteristics:
First, imports and exports grew rapidly in March, with exports showing double-digit growth. In March of this year, China's foreign trade imports and exports totaled 2.46 trillion yuan, an increase of 9.6%, which strongly stimulated the overall growth rate of foreign trade in the first quarter. Among them, exports of 1.34 trillion yuan, a substantial increase of 21.3%, imports of 1.12 trillion yuan, a decline of 1.8%. In March, the total value of China's foreign trade imports and exports was 364.7 billion US dollars, an increase of 3.1%. Exports increased by 14.2% to $198.67 billion, while imports decreased by 7.6% to $166.03 billion.
Second, the import and export of general trade has increased and its proportion has increased. In the first quarter, China's general trade import and export reached 4.17 trillion yuan, an increase of 6%, accounting for 59.6% of China's total import and export value, an increase of 1.3 percentage points over the same period last year, and the structure of trade mode continued to optimize. Among them, exports amounted to 2.2 trillion yuan, an increase of 11.7%, while imports amounted to 1.97 trillion yuan, an increase of 0.3%.
Third, the growth of imports and exports to major trading partners such as the EU, ASEAN and Japan. In the first quarter, the total value of China's imports and exports to the EU was 1.11 trillion yuan, an increase of 11.5%, accounting for 15.8% of our total foreign trade value; the total value of China's trade with ASEAN was 934.55 billion yuan, an increase of 8.1%, accounting for 13.3%. During the same period, the total value of Sino-US trade was 815.86 billion yuan, down 11%, accounting for 11.6%; the total value of Sino-Japanese trade was 505.55 billion yuan, an increase of 3.2%, accounting for 7.2%.
Four, the growth rate of imports and exports of the countries along the belt and road is better than the whole. In the first quarter, China's total imports and exports totaled 7.8% yuan for the countries along the belt and the road, an increase of 7.8%, higher than the overall growth rate of foreign trade by 4.1 percentage points, accounting for 28.6% of the total value of our foreign trade, and the proportion increased by 1.1 percentage points. Among them, imports and exports to Russia, Saudi Arabia and Egypt increased by 9.8%, 33.8% and 18.3% respectively. The potential of trade cooperation between China and the countries along the belt is continuing to be released, and it has become a new driving force for the development of China's foreign trade.
Fifth, the growth of private enterprises'import and export and the increase of their proportion. In the first quarter, China's private enterprises imported and exported 2.84 trillion yuan, an increase of 9.9%, accounting for 40.6% of China's total import and export value, an increase of 2.3 percentage points over the same period last year. Among them, exports amounted to 1.86 trillion yuan, an increase of 13.8%, accounting for 49.3% of the total export value; imports amounted to 985.31 billion yuan, an increase of 3.2%, accounting for 30.4% of the total import value. Over the same period, foreign-invested enterprises imported and exported 2.89 trillion yuan, down 0.7%, accounting for 41.3%, while state-owned enterprises imported and exported 1.24 trillion yuan, an increase of 1%, accounting for 17.7%.
Sixth, the growth rate of imports and exports in the Midwest and Northeast is higher than that of the whole country, and the regional development is more coordinated. In the first quarter, the growth rate of foreign trade in 12 provinces and cities in the West was 14.5%, 10.8 percentage points higher than that in the whole country; the growth rate of foreign trade in six provinces in the central region was 6.9%, 3.2 percentage points higher than that in the whole country; and the growth rate of foreign trade in the three provinces in the Northeast was 5.1%, 1.4 percentage points higher than that in the whole country. In the same period, foreign trade imports and exports of 10 provinces and municipalities in eastern China increased by 2.3%, 1.4 percentage points lower than the national growth rate.
Seventh, the export of mechanical and electrical products and labor-intensive products increased simultaneously. In the first quarter, China's export of mechanical and electrical products was 2.21 trillion yuan, an increase of 5.4%, accounting for 58.8% of China's total export value. Among them, the export of portable computers grew by 8%, and the export of automobiles grew by 15.1%. In the same period, the total export of seven categories of labor-intensive products, such as clothing and toys, amounted to 685.53 billion yuan, an increase of 6.5%, accounting for 18.2% of the total export value.
Eighth, imports of crude oil and natural gas increased, while imports of iron ore, coal and soybeans decreased. In the first quarter, China imported 121 million tons of crude oil, an increase of 8.2%; 24.27 million tons of natural gas, an increase of 17.8%; 8.72 million tons of refined oil, an increase of 5.8%. In addition, 261 million tons of iron ore were imported, a decrease of 3.5%; 74.63 million tons of coal, a decrease of 1.8%; 16.75 million tons of soybean, a decrease of 14.4%. Preliminary estimates show that China's import prices rose by 3.5% in the first quarter, including 12.8% for iron ore, 8.8% for soybeans and 28.2% for natural gas.
Ninth, the import and export performance of the comprehensive bonded area is active. In the first quarter, the import and export of China's Comprehensive Bonded Zone reached 526.23 billion yuan, an increase of 11.7%, of which 311.18 billion yuan was exported, an increase of 8.4%; 215.5 billion yuan was imported, an increase of 16.7%; the growth rates of import and export and import were 8, 17 and 16.4 percentage points higher than the overall growth rate of foreign trade, respectively.
Overall, China's foreign trade started smoothly in the first quarter. At the same time, we should also see that the momentum of world economic and trade growth is weakening, the external environment is still complex and severe, and the development of foreign trade is facing many uncertainties. Guided by Xi Jinping's socialist ideology with Chinese characteristics in the new era, the Customs will comprehensively implement the spirit of the Nineteenth Congress of the CPC and the Second and Third Plenary Sessions of the Nineteenth Central Committee of the CPC, conscientiously implement the spirit of the Central Economic Work Conference and the deployment of government work reports, adhere to the general tone of steadily striving for progress in work, work steadily to meet difficulties and advance all customs reforms, and strive to optimize the business environment We should promote the steady improvement of foreign trade and better serve the overall economic and social development of the country.
(This information was originally issued by the General Administration of Customs)
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