On April 12, the general administration of customs issued the export and import trade data of the first quarter. Among them, the export value of furniture and its parts in March was RMB 28.1 billion and the cumulative export value from January to March was RMB 84.91 billion, with a growth of 9.2% over the same period in 2018.
The total export value of industry-related products, such as furniture, lamps, lighting fixtures, parts, textiles, and plastic products was RMB 130.41 billion in March. The cumulative export value from January to March was RMB 383.43 billion, with a growth of 11.9% over the same period in 2018.
Overall, in the first quarter of 2019, the total value of China's import and export of goods was RMB 7,005.11 billion, with a year-on-year growth of 3.7%. Therein, the export value was RMB 3,767.39 billion, with the year-on-year growth of 6.7%. The import value was RMB 3,237.72 billion, with a year-on-year growth of 0.3%. The trade surplus was RMB 529.67 billion.
From a regional perspective, China's import and export trade in major markets such as the European Union, ASEAN and Japan has increased and it slowed down with U.S.
In the first quarter, the total trade volume between China and the U.S. was RMB 815.86 billion, with a year-on-year decrease of 11%, accounting for 11.6% of the total foreign trade. Among them, China's export to the U.S. reached RMB 622.43 billion, with a year-on-year decrease of 3.7%. Imports from the U.S. reached RMB 193.43 billion, with a year-on-year decrease of 28.3%. The trade surplus with the U.S. was RMB 429.0 billion, with an increase of 32.4% over the first two months.
For the future trend of import and export trade, the director of General Administration of Customs, Ni Yuefeng, once said, "From the perspective of foreign trade after this Spring Festival, we are fully confident in the next stage of import and export growth."
It seems that the import and export data in March comply with expectations, especially there was a strong momentum of export, and the export value increased by 45.5% from the previous month, with a growth of 21.3% over the same period in 2018. Although exports to the U.S. have decreased, the trade surplus growth is expanding.