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Slight Increase by 0.7% of China’s Foreign Trade of Import & Export from January to February

On March 8, the State General Administration of Customs released data on foreign trade of import and export of February. Among them, furniture exports reached RMB 56.81 billion in the first two months, with a year-on-year decrease of 1.0%, and textile exports reached RMB 119.57 billion, with a year-on-year decrease of 3.2%. Exports of seven major labor-intensive products, including furniture, textiles, garments, footwear, plastic products, luggage and toys, totaled RMB 467.14 billion, with a year-on-year decrease of 3.9%, accounting for 19.3% of the total export value. 

 

On the whole, in the first two months of this year, the total import and export value of China were RMB 4.54 trillion, with a year-on-year increase of 0.7%. Among them, exports were RMB 2.42 trillion, with a year-on-year increase of 0.1%; and imports were RMB 2.12 trillion, with a year-on-year increase of 1.5%; the trade surplus was RMB 308.68 billion, with a year-on-year narrowing of 8.7%. 

China’s Foreign Trade of Import & Export ,Slight Increase by 0.7% of China’s Foreign Trade of Import & Export from January to February

 

From a regional perspective, China has increased its imports and exports to EU, ASEAN, Japan and other major markets, while slowed down its imports and exports to the United States. In the first two months, the total value of Sino-US trade was RMB 524.97 billion, with a year-on-year decrease of 16.1%, accounting for 11.6% of the total foreign trade value of China. Among them, China's exports to the United States amounted to RMB 407.53 billion, with a year-on-year decrease of 9.9%; and imports from the United States totaled RMB 117.44 billion, with a year-on-year decrease of 32.2%. The trade surplus with the United States reached RMB 290.09 billion, with a year-on-year increase of 3.9%. 

 

As influenced by the Spring Festival, data on China's import and export of foreign trade fell back in February 2019 beyond expectations. In February, China's imports and exports totaled USD 266.36 billion, with a decrease of 13.8%. Among them, exports were USD 135.24 billion, with a decrease of 20.7%; and imports were USD 131.12 billion, with a decrease of 5.2%. The trade surplus was USD 4.12 billion, narrowing 87.2%. However, since the Spring Festival this year, the growth rate of China's imports and exports has been increased sharply. Imports and exports had a year-on-year increase of 21% in the middle and late February. In early March (as of wee hours of the 9th), imports and exports had a year-on-year increase of 24.7%, and exports were increased even more strongly, with a year-on-year growth rate of 39.9%. 

 

 

(Source: JJgle.com)