General Administration of Customs Announces Import and Export Transcript! China's imports and exports increased by 5.8% in the first four months of this year
May 12, 2023
The results of import and export in the first four months of this year have been released. According to customs statistics, in the first four months of this year, China's total import and export value was 13.32 trillion yuan, a year-on-year increase of 5.8%. Among them, exports reached 7.67 trillion yuan, an increase of 10.6%; Import reached 5.65 trillion yuan, an increase of 0.02%; The trade surplus reached 2.02 trillion yuan, an increase of 56.7%.
In US dollar terms, China's total import and export value in the first four months of this year was 1.94 trillion US dollars, a decrease of 1.9%. Among them, exports reached 1.12 trillion US dollars, an increase of 2.5%; Import of 822.76 billion US dollars, a decrease of 7.3%; The trade surplus reached 294.19 billion US dollars, an increase of 45%.
The import and export performance has shown a stable and upward trend, "Xie Logistics, a senior investment advisor at Jufeng Investment Consulting, said in an interview with Securities Daily." Being able to achieve such results in the context of external Fed rate hikes indicates that China's foreign trade resilience is strong and its comprehensive strength has significantly improved. As the supply of the industrial chain gradually recovers, it is expected that a stronger supply will provide positive support for export growth.
From monthly data, in April this year, China's import and export reached 3.43 trillion yuan, an increase of 8.9%. Among them, exports reached 2.02 trillion yuan, an increase of 16.8%; Import reached 1.41 trillion yuan, a decrease of 0.8%; The trade surplus was 618.44 billion yuan, an increase of 96.5%.
In US dollar terms, China's imports and exports in April this year reached $500.63 billion, an increase of 1.1%. Among them, exports reached 295.42 billion US dollars, an increase of 8.5%; Imports reached 205.21 billion US dollars, a decrease of 7.9%; The trade surplus reached 90.21 billion US dollars, an increase of 82.3%.
Increase in the proportion of general trade imports and exports
In the first four months, China's general trade import and export reached 8.72 trillion yuan, an increase of 8.5%, accounting for 65.4% of China's total foreign trade value, an increase of 1.6 percentage points compared to the same period last year. Among them, exports reached 5.01 trillion yuan, an increase of 14.1%; Import reached 3.71 trillion yuan, an increase of 1.8%. During the same period, the import and export of processing trade reached 2.38 trillion yuan, a decrease of 9.8%, accounting for 17.9%. Among them, exports reached 1.57 trillion yuan, a decrease of 4.7%; Import reached 810.78 billion yuan, a decrease of 18.2%.
In addition, China's import and export through bonded logistics amounted to 1.73 trillion yuan, an increase of 15.4%. Among them, exports reached 676.42 billion yuan, an increase of 23.4%; Import reached 1.05 trillion yuan, an increase of 10.8%.
Growth in imports and exports to ASEAN and the European Union
In the first four months, ASEAN was my largest trading partner, with a total trade value of 2.09 trillion yuan, an increase of 13.9%, accounting for 15.7% of my total foreign trade value. Among them, exports to ASEAN reached 1.27 trillion yuan, an increase of 24.1%; Import from ASEAN reached 820.3 billion yuan, an increase of 1.1%; The trade surplus with ASEAN reached 451.55 billion yuan, expanding by 111.4%.
The EU is my second largest trading partner, with a total trade value of 1.8 trillion yuan, an increase of 4.2%, accounting for 13.5%. Among them, exports to the European Union reached 1.17 trillion yuan, an increase of 3.2%; Import from the European Union reached 631.35 billion yuan, an increase of 5.9%; The trade surplus with the European Union reached 541.46 billion yuan, an increase of 0.3%.
ASEAN continues to be China's largest trading partner, and the expansion of emerging markets such as ASEAN provides more resilience for China's exports. Xie Logistics believes that at the same time, there is a good trend in China Europe economic and trade, and the subsequent trade relationship between ASEAN remains a solid support for foreign trade. China Europe economic and trade has not seen a good increase.
The United States is my third largest trading partner, with a total trade value of 1.5 trillion yuan, a decrease of 4.2%, accounting for 11.2%. Among them, exports to the United States reached 1.09 trillion yuan, a decrease of 7.5%; Imports from the United States reached 410.06 billion yuan, an increase of 5.8%; The trade surplus with the United States reached 676.89 billion yuan, narrowing by 14.1%.
Japan is my fourth largest trading partner, with a total trade value of 731.66 billion yuan, a decrease of 2.6% or 5.5%. Among them, exports to Japan reached 375.24 billion yuan, an increase of 8.7%; Import from Japan reached 356.42 billion yuan, a decrease of 12.1%; The trade surplus with Japan was 18.82 billion yuan, compared to a trade deficit of 60.44 billion yuan in the same period last year.
Over the same period, China's imports and exports to countries along the "the Belt and Road" totaled 4.61 trillion yuan, an increase of 16%. Among them, exports reached 2.76 trillion yuan, an increase of 26%; Import reached 1.85 trillion yuan, an increase of 3.8%.
Private enterprises account for over 50% of imports and exports
In the first four months, the import and export of private enterprises reached 7.05 trillion yuan, an increase of 15.8%, accounting for 52.9% of China's total foreign trade value, an increase of 4.6 percentage points compared to the same period last year. Among them, exports reached 4.86 trillion yuan, an increase of 20.2%, accounting for 63.3% of the total export value; Import reached 2.19 trillion yuan, an increase of 7.1%, accounting for 38.8% of the total import value.
The import and export of state-owned enterprises reached 2.18 trillion yuan, an increase of 5.7%, accounting for 16.4% of China's total foreign trade value. Among them, exports reached 605.24 billion yuan, an increase of 13.6%; Import reached 1.57 trillion yuan, an increase of 3%.
During the same period, the import and export of foreign-invested enterprises reached 4.06 trillion yuan, a decrease of 8.2%, accounting for 30.5% of China's total foreign trade value. Among them, exports reached 2.2 trillion yuan, a decrease of 6.9%; Imports reached 1.86 trillion yuan, a decrease of 9.8%.
In addition, data shows that exports of mechanical and electrical products and labor secret products have both increased. In the first four months, China's export of mechanical and electrical products reached 4.44 trillion yuan, an increase of 10.5%, accounting for 57.9% of the total export value. Among them, automobiles reached 204.53 billion yuan, an increase of 120.3%; Mobile phones reached 282.95 billion yuan, a decrease of 3.2%.
During the same period, the export of labor secret products reached 1.31 trillion yuan, an increase of 8.8%, accounting for 17.1%. Among them, clothing and accessories amounted to 330.46 billion yuan, an increase of 10.6%; Textiles amounted to 307.84 billion yuan, a decrease of 0.8%; Plastic products reached 235.15 billion yuan, an increase of 12.6%.
