The cumulative growth rate of imports and exports in the first 10 months and the growth rate in October have both turned positive, and the trend of foreign trade has further shown a positive trend
2023-11-08
According to data released by the General Administration of Customs on the 7th, the cumulative growth rate of China's import and export of goods in the first 10 months and the growth rate in October have both turned positive. Among them, the cumulative growth rate has decreased slightly from 0.1% and 0.2% year-on-year in the first 8 months and the first three quarters to an increase of 0.03%, while the year-on-year growth rate in October increased by 0.9%, reversing the "four consecutive declines" in the previous month's growth rate, and consolidating the positive trend of monthly import and export. In the first 10 months, China's total import and export value was 34.32 trillion yuan. Among them, exports reached 19.55 trillion yuan, an increase of 0.4%; Import of 14.77 trillion yuan, a decrease of 0.5%; The trade surplus reached 4.78 trillion yuan, an increase of 3.2%. Lv Daliang, Director of the Statistics and Analysis Department of the General Administration of Customs, stated that currently, positive factors in China's foreign trade sector have accumulated and increased, driving the year-on-year growth of imports and exports in October. According to the China Customs Trade Prosperity Statistics Survey, the proportion of enterprises expressing optimism about future imports and exports has increased, and the positive development trend of China's foreign trade has further emerged. From the perspective of exported goods, in the first 10 months, China's exports of mechanical and electrical products reached 11.43 trillion yuan, an increase of 2.8%, accounting for 58.5% of the total export value. Among them, automobile exports reached 582.43 billion yuan, an increase of 88.5%. Zhao Fujun, Director and Researcher of the Comprehensive Research Office of the Department of Foreign Economic Research at the Development Research Center of the State Council, stated that in terms of product structure, in the first 10 months, China's exports of mechanical and electrical products increased year-on-year, which was higher than the overall growth rate of China's exports. Since the beginning of this year, the global economic recovery has been unstable, with weak external demand and falling prices. Coupled with the impact of last year's high base, China's foreign trade growth is facing many pressures. However, with the precise implementation and deepening of various domestic policies, enterprises have actively sought innovation and progress, and responded to difficulties. In the first 10 months, China's foreign trade has been running smoothly, with a year-on-year growth rate achieving positive growth. Positive factors have been accumulating, mainly showing three characteristics: from the perspective of trade structure, the import and export of general trade has increased, and the proportion has increased. In the first 10 months, China's general trade import and export reached 2226 trillion yuan, an increase of 1.8%, accounting for 64.9% of China's total foreign trade value, an increase of 1.1 percentage points compared to the same period last year. In addition, China's import and export through bonded logistics amounted to 4.5 trillion yuan, an increase of 6.7%. From the perspective of trading partners, imports and exports to ASEAN have increased, while imports from the European Union and the United States have increased. In the first 10 months, ASEAN became my largest trading partner, with a total trade value of 5.23 trillion yuan, an increase of 0.9%, accounting for 15.2% of my total foreign trade value. The EU and the United States are China's second and third largest trading partners, with imports from the EU reaching 1.65 trillion yuan, an increase of 5.1%; Import from the United States reached 948.87 billion yuan, an increase of 0.2%. Over the same period, China's total imports and exports to countries jointly building the "the Belt and Road" totaled 15.96 trillion yuan, an increase of 3.2%. From the perspective of trade entities, the import and export of private enterprises have maintained growth. In the first 10 months, the import and export of private enterprises reached 18.24 trillion yuan, an increase of 6.2%, accounting for 53.1% of China's total foreign trade value, an increase of 3.1 percentage points compared to the same period last year. Zhao Fujun stated that in the face of a complex and severe external demand situation, stabilizing foreign trade should adhere to a combination of long and short terms, not only to stabilize key trade entities
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：economic daily
Special statement: if the pictures and texts reproduced or quoted on this site infringe your legitimate rights and interests, please contact this site, and this site will correct and delete them in time. For copyright issues and website cooperation, please contact through outlook new era email：lwxsd@liaowanghn.com
Economy
Recommended Reading Change it 
Home
