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Made in China is not fragrant? Total exports plummeted for two consecutive months, how should China's foreign trade respond?
Sep 02,2023
Earlier, the latest export data released by the General Administration of Customs showed that China's total exports have plummeted for two consecutive months, setting the lowest level in recent years, which is an uproar.
China's total export volume falls continuously
At the beginning of August, according to the import and export data released by the Customs Administration, my country's import and export data declined significantly. In July, my country's import and export fell by 8.3 year-on-year.
In July, the import and export funds reached 3.46 trillion billion yuan, of which the import 1.44 trillion and export 2.02 trillion fell by 6.9 and 9.2 respectively, and the trade surplus shrank by 14.6.
Seeing the intuitive figures, many people realize that my country's foreign trade business is indeed going to enter the "ICU". Compared with the foreign trade business that used to be in a blaze of business, foreign trade is now beginning to be difficult to do.
In the previous foreign trade market, we mainly connected with markets in Europe and the United States, such as Germany, the Netherlands, France, etc., but recently China's exports to these countries have fallen by more than 10% year-on-year, while the United States and Canada, the main exporters, The data are not so optimistic, falling by 18.6 and 20.5 respectively.
However, the export of automobiles, some spare parts, mechanical and electrical products, including machinery and equipment, has increased. It can be seen that the export of not all products has shown a downward trend.
However, despite the increasing export of these high-tech fields, there are still some products that have not received effective attention, and most of these products belong to traditional categories, such as aluminum and integrated circuits.
European and American demand for China decreases
Many people say that China is decoupled by the U. S.-West trade, by its restrictions, commodity exports are also affected, in fact, this is not the main reason, affected by the epidemic, the European and American markets on the Chinese market demand has also declined.
An epidemic has plunged the national economy into a state of shrinkage, and the development of the market has begun to slow down. Affected by this, the European and American markets have also begun to carry out "big drainage", and liquidity has accelerated significantly compared to before.
So at this time, if the European and American markets cannot guarantee the continuity of the supply chain, then the supply of goods will be hindered, so more goods can only rely on imports from Asian countries.
It is for this reason that China's exports during the epidemic rose sharply, especially to the European and American markets, from the second half of 20 to 21 years, China's foreign trade has shown a "thriving" state.
But as we enter 2022, the world enters a cycle of interest rate hikes, liquidity begins to shrink again compared to before, and with the recovery of the epidemic and the adaptation of global markets, the corresponding markets in Europe and the United States also begin to fall.
As a result, after the recovery of the world's supply chain, the markets in Europe and the United States have shown a trend of diversification. With the emergence of commodities from various countries and regions, the imports from China will naturally decrease.
China's industry needs to upgrade
In addition to external factors, the role of internal factors also has a key impact on the decline of import and export. For China, its lack of competitiveness is also one of the problems that need to be paid attention.
Foreign trade export is a long-term process. In the long run, the first thing that can affect one's own foreign trade market is the value and competitiveness of the product itself, and external restrictions only play a restrictive role to a certain extent.
At present, my country's new energy automobile industry is already in the world's leading industry. Today's automobile brands are developing more and more rapidly, and exports are also considerable. This shows that my country's automobiles have certain advantages.
In addition to the growing development of domestic car brands, many cars are also exported to the European and American markets, which also shows that the European and American markets also rely on Chinese imports to a certain extent.
At the same time, it is not that European and American countries do not consume, but they are more inclined to choose some high-tech products and where these products are imported, which is also the challenge facing our country at present.
The Way Out of China's Foreign Trade Market
A large number of foreign capital withdrawal, the number of orders is also significantly reduced, the export volume is a significant decline, such a situation, how should we face? China's foreign trade and where is the way out?
Based on this background, from the perspective of enterprises, it is necessary to carry out active upgrading and adjustment, not only in technology research and development and product upgrading, but also in innovation.
At the same time, China can also build factories overseas, use local resources and labor to obtain better cost advantages, and sell products to the global market.
Investing and operating the manufacturing industry overseas can enable Chinese companies to better adapt to the needs of the global market, and improve their competitiveness based on this, so as to obtain more opportunities.
The control of the market is in the hands of whoever has the right to speak. Countries that have mastered unique production technology can provide products that other countries cannot produce, and supply and demand are always in balance.
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