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General Administration of Customs: The total value of foreign trade imports and exports in the first three quarters was 22.91 trillion yuan : LONGTEMP

General Administration of Customs: The total value of foreign trade imports and exports in the first three quarters was 22.91 trillion yuan

  • Date: Oct 16, 2019
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  • Categories: News

On October 14, the General Administration of Customs released economic data on the import and export situation in the first three quarters of 2019. According to customs statistics, the total value of China’s foreign trade imports and exports in the first three quarters of this year was 22.91 trillion yuan, an increase of 2.8% over the same period last year. Among them, exports were 12.48 trillion yuan, up 5.2%; imports were 10.43 trillion yuan, down 0.1%; trade surplus was 2.05 trillion yuan, up 44.2%.

In September, China’s total import and export value was 2.78 trillion yuan, down 3.3%. Among them, exports were 1.53 trillion yuan, down 0.7%; imports were 1.25 trillion yuan, down 6.2%.

According to Li Kuiwen, spokesperson of the General Administration of Customs and Director of the Department of Statistical Analysis, in general, China’s foreign trade operations in the first three quarters showed a generally stable, stable and qualitative situation.

From the perspective of trade patterns, the leading role of general trade is more significant. In the first three quarters, China’s general trade import and export was 13.64 trillion yuan, an increase of 4.8%, accounting for 59.5% of China’s total foreign trade, an increase of 1.1 percentage points over the same period last year. Among them, exports were 7.3 trillion yuan, an increase of 8.7%; imports were 6.34 trillion yuan, an increase of 0.7%.

From the perspective of trading countries, the market development effect has been further enhanced. In the first three quarters, China imported 3.57 trillion yuan and 3.14 trillion yuan respectively from the EU and ASEAN, which grew by 8.6% and 11.5% respectively, accounting for 15.6% and 13.7% of China’s total foreign trade respectively. In the same period, the total value of Sino-US trade was 2.75 trillion yuan, down 10.3%; the total value of Sino-Japanese trade was 1.58 trillion yuan, up 0.1%. In particular, the total import and export of the countries along the “Belt and Road” is 6.65 trillion yuan, an increase of 9.5%, which is 6.7 percentage points higher than the overall growth rate of foreign trade in the country, accounting for 29% of China’s total foreign trade.

From the perspective of the nature of enterprises, the vitality of foreign trade enterprises has continuously increased. In the first three quarters, the import and export of private enterprises was 9.69 trillion yuan, an increase of 10.4%, accounting for 42.3% of China’s total foreign trade, an increase of 2.9 percentage points over the same period last year. Among them, exports were 6.4 trillion yuan, an increase of 13%, accounting for 51.3% of the total value of exports; imports were 3.29 trillion yuan, an increase of 5.9%, accounting for 31.5% of the total value of imports. In the same period, the import and export of foreign-invested enterprises was 9.22 trillion yuan, down 2.9%, accounting for 40.2% of China’s total foreign trade. The import and export of state-owned enterprises was 3.93 trillion yuan, a drop of 0.7%.

From the perspective of regional development, the regional foreign trade pattern has become more optimized. In the first three quarters, the growth rate of foreign trade in the 12 provinces and the western regions was 11.8%, which was 9 percentage points higher than the overall growth rate of foreign trade in the country. The growth rate of foreign trade in the six provinces was 12.4%, which was 9.6 percentage points higher than the overall growth rate of foreign trade. In the same period, the growth rate of foreign trade in the 10 provinces and cities in the east was 1.3%; the foreign trade in the three northeastern provinces fell by 1.8%.

From the perspective of export commodities, the export of mechanical and electrical products and labor-intensive products increased simultaneously. In the first three quarters, China’s exports of mechanical and electrical products reached 7.25 trillion yuan, an increase of 4.7%, accounting for 58.1% of the total export value. Among them, the export of electrical and electronic products was 3.28 trillion yuan, an increase of 6.2%; the mechanical equipment was 2.1 trillion yuan, an increase of 1.9%. In the same period, the seven major categories of labor-intensive products such as clothing and textiles exported a total of 2.42 trillion yuan, an increase of 6.2%, accounting for 19.4% of the total export value.

From the perspective of imported goods, imports of bulk commodities such as crude oil and coal increased, and imports of pork and beef increased significantly. In the first three quarters, China imported 369 million tons of crude oil, an increase of 9.7%; coal 251 million tons, an increase of 9.5%; natural gas 71.22 million tons, an increase of 10%. In addition, imported iron ore was 784 million tons, a decrease of 2.4%; soybeans were 64.51 million tons, a decrease of 7.9%. In the same period, imported pork was 1.326 million tons, an increase of 43.6%; imported beef was 1.132 million tons, an increase of 53.4%.

Li Kuiwen said that since the beginning of this year, the growth of international economic and trade has slowed down, and the external environment has become more complicated and severe. In the first three quarters, China’s foreign trade import and export continued to grow and the structure continued to optimize. The Customs will implement the “six stable” requirements of stabilizing foreign trade and stabilizing foreign investment, and will face difficulties and work hard, steadily promote various customs reforms, focus on optimizing the business environment at the port, promote the stability of foreign trade, and better serve the country. The overall situation of economic and social development.

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