General Administration of Customs: China's total import and export value of goods trade reached 21.17 trillion yuan in the first half of the year, a year-on-year increase of 6.1%
07-16
According to the website of the General Administration of Customs, customs statistics show that in the first half of the year, China's total import and export value of goods reached 21.17 trillion yuan, an increase of 6.1% year-on-year (the same below). Exports totaled 12.13 trillion yuan, up 6.9%; imports totaled 9.04 trillion yuan, up 5.2%; and the trade surplus reached 3.09 trillion yuan, an increase of 12%. In US dollar terms, China's total import and export value in the first half of the year was US\$2.98 trillion, an increase of 2.9%. Exports totaled US\$1.71 trillion, up 3.6%; imports totaled US\$1.27 trillion, up 2%; and the trade surplus was US\$4350 billion, an increase of 8.6%. The main characteristics of China's import and export in the first half of the year are:
I. Trade volume hit a new high, and the quarterly trend continued to improve
In the first half of the year, China's import and export volume exceeded 21 trillion yuan for the first time in the same period of history; the growth rate of import and export accelerated quarter by quarter, with a growth of 7.4% in the second quarter, 2.5 and 5.7 percentage points higher than the first quarter and the fourth quarter of last year respectively, and the positive momentum of foreign trade was further consolidated.
II. General trade, processing trade, and bonded logistics import and export all increased
In the first half of the year, China's general trade import and export totaled 13.76 trillion yuan, an increase of 5.2%, accounting for 65% of China's total foreign trade. Exports totaled 8.01 trillion yuan, up 8.5%; imports totaled 5.75 trillion yuan, up 1%. In the same period, processing trade import and export totaled 3.66 trillion yuan, an increase of 2.1%, accounting for 17.3%. Exports totaled 2.32 trillion yuan, down 1.3%; imports totaled 1.34 trillion yuan, up 8.5%.
In addition, China's import and export through bonded logistics totaled 2.96 trillion yuan, an increase of 16.6%. Exports totaled 1.12 trillion yuan, up 13.2%; imports totaled 1.84 trillion yuan, up 18.9%.
III. Import and export with ASEAN, the United States, and South Korea increased
In the first half of the year, ASEAN was China's largest trading partner, China's total trade with ASEAN reached 3.36 trillion yuan, an increase of 10.5%, accounting for 15.9% of China's total foreign trade. Exports to ASEAN totaled 2.03 trillion yuan, up 14.2%; imports from ASEAN totaled 1.33 trillion yuan, up 5.2%; and the trade surplus with ASEAN reached 699.49 billion yuan, an increase of 36.5%. The EU was China's second largest trading partner, China's total trade with the EU reached 2.72 trillion yuan, down 0.7%, accounting for 12.8%. Exports to the EU totaled 1.78 trillion yuan, up 0.5%; imports from the EU totaled 938.87 billion yuan, down 2.9%; and the trade surplus with the EU reached 837.67 billion yuan, an increase of 4.6%. The United States was China's third largest trading partner China's total trade with the United States reached 2.29 trillion yuan, an increase of 2.9%, accounting for 10.8%. Exports to the United States totaled 1.71 trillion yuan, up 4.7%; imports from the United States totaled 577.97 billion yuan, down 2%; and the trade surplus with the United States reached 1.14 trillion yuan, an increase of 8.4%. South Korea was China's fourth largest trading partner, China's total trade with South Korea reached 1.13 trillion yuan, an increase of 7.6%, accounting for 5.3%. Exports to South Korea totaled 516.95 billion yuan, down 0.6%; imports from South Korea totaled 609.02 billion yuan, up 15.7%; and the trade deficit with South Korea reached 92.07 billion yuan, an increase of 14.3 times.
In the same period, China's total import and export with countries jointly building the "Belt and Road" initiative reached 10.03 trillion yuan, an increase of 7.2%. Exports totaled 5.62 trillion yuan, up 8.4%; imports totaled 4.41 trillion yuan, up 5.8%.
IV. Import and export of private enterprises, foreign-invested enterprises, and state-owned enterprises all increased
In the first half of the year, private enterprises' import and export totaled 11.64 trillion yuan, an increase of 11.2%, accounting for 55% of China's total foreign trade, an increase of 2.5 percentage points from the same period last year. Exports totaled 7.87 trillion yuan, up 10.7%, accounting for 64.9% of China's total exports; imports totaled 3.77 trillion yuan, up 12.3%, accounting for 41.8% of China's total imports. In the same period, foreign-invested enterprises' import and export totaled 6.17 trillion yuan, an increase of 0.2%, accounting for 29.1% of China's total foreign trade. Exports totaled 3.31 trillion yuan, down 0.1%; imports totaled 2.86 trillion yuan, up 0.5%. State-owned enterprises' import and export totaled 3.31 trillion yuan, an increase of 1.2%, accounting for 15.6% of China's total foreign trade. Exports totaled 931.28 billion yuan, up 1.9%; imports totaled 2.37 trillion yuan, up 1%.
V. Electromechanical products accounted for nearly 60% of exports, with exports of automatic data processing equipment and parts, integrated circuits, and automobiles increasing
In the first half of the year, China's exports of electromechanical products totaled 7.14 trillion yuan, an increase of 8.2%, accounting for 58.9% of China's total exports. Automatic data processing equipment and parts totaled 683.77 billion yuan, up 10.3%; integrated circuits totaled 542.74 billion yuan, up 25.6%; automobiles totaled 391.76 billion yuan, up 22.2%; and mobile phones totaled 388.28 billion yuan, down 1.7%. In the same period, exports of labor-intensive products totaled 2.07 trillion yuan, an increase of 6.6%, accounting for 17.1%. Clothing and clothing accessories totaled 524.43 billion yuan, up 3%; textiles totaled 492.67 billion yuan, up 6.5%; and plastic products totaled 377.64 billion yuan, up 11.7%. Exports of agricultural products totaled 344.43 billion yuan, up 5.2%.
In addition, exports of steel totaled 53.4 million tons, an increase of 24%; refined oil totaled 30.094 million tons, a decrease of 3.8%; and fertilizers totaled 12.606 million tons, a decrease of 0.8%.
VI. Imports of major bulk commodities such as iron ore, coal, and natural gas increased
In the first half of the year, China imported 611 million tons of iron ore, an increase of 6.2%, with an average import price (the same below) of 841.8 yuan per ton, an increase of 7%; 275 million tons of crude oil, a decrease of 2.3%, at 4316.3 yuan per ton, an increase of 7.9%; 250 million tons of coal, an increase of 12.5%, at 716.3 yuan per ton, a decrease of 17%; 64.652 million tons of natural gas, an increase of 14.3%, at 3488.5 yuan per ton, a decrease of 10.5%; 48.481 million tons of soybeans, a decrease of 2.2%, at 3691.4 yuan per ton, a decrease of 15.8%; and 25.076 million tons of refined oil, an increase of 9.9%, at 4330.6 yuan per ton, an increase of 7.9%. In addition, imports of primary-shaped plastics totaled 14.202 million tons, an increase of 0.1%, at 10,800 yuan per ton, a decrease of 1%; and unwrought copper and copper products totaled 2.763 million tons, an increase of 6.8%, at 65,900 yuan per ton, an increase of 8.6%.
During the same period, imports of electromechanical products totaled 3.25 trillion yuan, an increase of 10.1%. This includes 2588.9 billion integrated circuits, an increase of 14.1%, valued at 1.27 trillion yuan, an increase of 14.4%; and 332,000 automobiles, a decrease of 4.1%, valued at 132.35 billion yuan, a decrease of 11.8%.
Source: China.com.cn Finance
