According to customs statistics, in the first five months of this year, China's total import and export value was 16.77 trillion yuan, an increase of 4.7 percent over the same period last year (the same below), according to data released by the General Administration of Customs on the 7th. Among them, exports were 9.62 trillion yuan, up 8.1 percent; imports were 7.15 trillion yuan, up 0.5 percent; and the trade surplus was 2.47 trillion yuan, up 38 percent.
In dollar terms, the total value of China's imports and exports in the first five months of this year was 2.44 trillion billion US dollars, down 2.8 per cent. Of this total, exports were $1.4 trillion, up 0.3 per cent; imports were $1.04 trillion, down 6.7 per cent; and the trade surplus was $359.48 billion, up 27.8 per cent.
May imports and exports up 0.5 percent year-on-year
In a single month, data from the General Administration of Customs show that in May this year, my country's imports and exports were 3.45 trillion billion yuan, an increase of 0.5 percent. Among them, exports were 1.95 trillion yuan, down 0.8 percent; imports were 1.5 trillion yuan, up 2.3 percent; and the trade surplus was 452.33 billion yuan, down 9.7 percent.
In dollar terms, China's imports and exports in May this year 501.19 billion US dollars, down 6.2 per cent. Of this total, exports were $283.5 billion, down 7.5 per cent; imports were $217.69 billion, down 4.5 per cent; and the trade surplus was $65.81 billion, down 16.1 per cent.
Imports and exports to ASEAN and the EU increased, while exports to the United States and Japan declined.
In the first five months, China's foreign trade export structure continued to optimize. According to data from the General Administration of Customs, in the first five months, my country's imports and exports to ASEAN and the European Union increased, while those to the United States and Japan declined.
In the first five months, ASEAN was my country's largest trading partner. The total value of my country's trade with ASEAN was 2.59 trillion billion yuan, an increase of 9.9 percent, accounting for 15.4 percent of my country's total foreign trade value. Among them, exports to ASEAN were 1.56 trillion yuan, an increase of 16.4 percent; imports from ASEAN were 1.03 trillion yuan, an increase of 1.4 percent; and the trade surplus with ASEAN was 523.86 billion yuan, an increase of 64.3 percent.
The EU is my country's second largest trading partner. The total value of my country's trade with the EU was 2.28 trillion billion yuan, an increase of 3.6 percent, accounting for 13.6 percent.
The United States is China's third largest trading partner. The total value of trade between China and the United States was 1.89 trillion billion yuan, down 5.5 percent, accounting for 11.3 percent.
Japan is my country's fourth largest trading partner, and the total value of my country's trade with Japan was 902.66 billion billion yuan, a decrease of 3.5 percent, accounting for 5.4 percent.
During the same period, China's imports and exports to countries along the "the belt and road initiative" totaled 5.78 trillion yuan, up 13.2 percent. Among them, exports of 3.44 trillion yuan, an increase of 21.6; imports of 2.34 trillion yuan, an increase of 2.7.
Car exports up 124.1 percent year-on-year
From the perspective of specific commodities, automobile exports have once again become one of the core driving forces of exports. According to data from the General Administration of Customs, in the first five months, my country exported 5.57 trillion billion yuan of mechanical and electrical products, an increase of 9.5 percent, accounting for 57.9 percent of the total export value.
Among them, equipment and its parts 509.15 billion yuan, down 18.1 percent; mobile phones 339.77 billion yuan, down 6.4 percent; cars 266.78 billion yuan, up 124.1 percent.
Experts said that favorable policies, coupled with the strong development momentum of my country's new energy vehicles, and the unabated growth of exports to foreign countries will drive my country's auto exports. It is expected that my country's auto exports will continue to maintain a good growth trend in the future.
During the same period, exports of labor-intensive products amounted to 1.65 trillion yuan, up 5.4 per cent, or 17.2 per cent. Among them, clothing and clothing accessories 421.89 billion yuan, an increase of 6.6; textiles 390.48 billion yuan, down 2.4; plastic products 294.02 billion yuan, an increase of 9%.
Private enterprises import and export proportion of more than 50%
In the first five months, the import and export of private enterprises totaled 8.86 trillion billion yuan, an increase of 13.1 percent, accounting for 52.8 percent of China's total foreign trade value, an increase of 3.9 percentage points over the same period last year.
Among them, exports were 6.09 trillion billion yuan, up 16.2 percent, accounting for 63.3 percent of the total export value; imports were 2.77 trillion billion yuan, up 6.8 percent, accounting for 38.8 percent of the total import value.
Imports and exports of state-owned enterprises totaled 2.76 trillion yuan, up 4.7 percent, accounting for 16.4 percent of China's total foreign trade value. Among them, exports of 760.45 billion yuan, an increase of 8.8; imports of 2 trillion yuan, an increase of 3.2.
During the same period, the import and export of foreign-invested enterprises was 5.1 trillion billion yuan, down 7.6 percent, accounting for 30.4 percent of China's total foreign trade value. Among them, exports of 2.75 trillion yuan, down 6.8; imports of 2.35 trillion yuan, down 8.5.
China's exports are expected to remain generally stable in the second quarter
A number of institutions believe that the high base superimposed on the high point of export demand fell, dragging down the year-on-year growth rate of domestic exports in May. The research department said that the export growth rate dropped significantly, mainly because the export growth rate naturally fell after the release of export backlog demand in March. At present, overseas developed economies such as the United States are still in the stage of inventory de-stocking, to a certain extent, a drag on domestic exports.
The research department of CITIC Securities stated that the support of emerging countries such as the "Belt and Road" for China's exports has begun to gradually strengthen.
Li Chao, chief economist of Zheshang Securities, said that the economic development of emerging market countries and "made in China" going abroad have brought export support. Emerging market countries are also important emerging growth points for China's exports, especially the "Belt and Road" countries and the ASEAN region.
Lu Sinan, a researcher at Dagong International Credit Evaluation Co., Ltd., believes that China's exports are expected to remain stable in the second quarter. "In recent years, my country's foreign trade exchanges with ASEAN and countries along the'Belt and Road' have been increasing. As the economies of these emerging market countries accelerate to pick up, it is expected to form a strong boost to my country's exports in the second quarter."
May 2023 National Export Key Commodity Value Table
| May 2023 National Export Key Commodity Value Table |
| |
|
Unit: US $million |
| Name of commodity |
Cumulative from January to May |
Cumulative% over the same period last year |
| Agricultural products * |
39,860.4 |
3.3 |
| Aquatic products |
8,322.0 |
-10.4 |
| Grain |
575.9 |
-12.9 |
| refined oil |
20,657.9 |
35.8 |
| rare earth |
399.5 |
-14.7 |
| Chinese herbal medicine and Chinese patent medicine |
548.7 |
-7 |
| Fertilizer |
3,581.2 |
6.2 |
| Plastic Products |
42,801.7 |
1.1 |
| Luggage and similar containers |
15,602.5 |
24.1 |
| Textile yarn, fabric and its products |
56,829.1 |
-9.4 |
| Clothing and clothing accessories |
61,373.4 |
-1.1 |
| Shoes and Boots |
21,166.3 |
0.2 |
| Ceramic Products |
11,506.4 |
-0.3 |
| Steel |
41,596.6 |
15.1 |
| Unwrought aluminum and aluminum |
8,199.3 |
-30.7 |
| Furniture and parts thereof |
27,010.5 |
-6.9 |
| Toys |
15,976.3 |
-3.3 |
| Electromechanical products * |
810,645.9 |
1.6 |
| General mechanical equipment |
24,428.1 |
7 |
| Automatic data processing equipment and parts thereof |
74,193.8 |
-24 |
| Mobile Phone |
49,407.0 |
-13.3 |
| Household appliances |
36,191.7 |
-1.8 |
| Audio and video equipment and parts thereof |
14,199.3 |
-2.1 |
| integrated circuit |
52,572.2 |
-17.2 |
| Car (including chassis) |
38,723.3 |
107.9 |
| Auto Parts |
36,353.4 |
15.4 |
| Ship |
8,863.2 |
21.1 |
| LCD flat panel display module |
10,281.9 |
-14.7 |
| Medical instruments and apparatus |
7,369.8 |
-1.8 |
| Luminaires, lighting fixtures and parts thereof |
17,516.8 |
0.3 |
| High-tech products * |
335,118.9 |
-13.4 |
Source: Zhejiang Trade Promotion Comprehensive Finishing Since Chinanews, China Securities Journal
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