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Import and Export Growth in May Rebounded

Submit Time:05-07-2017 | Zoom In | Zoom Out

Author:Du Haitao | Source:People’s Daily

Abstract:

  According to custom statistics, the total amount of import and export in the first five months in 2017 reached 10.76 trillion yuan, which is increased by 19.8% compared to the same period in the previous year. The export amounted to 5.88 trillion yuan, increased by 14.8% and the import amounted to 4.88 trillion yuan, increased by 26.5%. The trade surplus was 994 billion yuan which has narrowed by 21.1%.

  The total amount of import and export in May was 2.35 trillion yuan, increased by 18.3% compared to the same period in the previous year. The export amounted to 1.32 trillion yuan, increased by 15.5% and the import amounted to 1.03 trillion yuan, increased by 22.1%. The trade surplus was 281.6 billion yuan which has narrowed by 3.4%. Compared to April, the import and export growth in May have both rebounded.

  According to custom investigation, the China Export Leading Indicator in May was 41.1, up by 0.4 compared to April. According to the web questionnaire, the China Export Managers’ Index in May was 45.2, up by 0.4 compared to April. The New Export Order Index has increased to 48.8, up by 0.6 and the Export Managers’ Confidence Index has increased to 50.9, up by 0.4.

  In the first five months, China’s import and export have presented the following features:

  Import and export of general trade has witnessed an increase with a larger proportion. In the first five months, the import and export of China’s general trade amounted to 6.11 trillion yuan, increased by 21% and accounting for 56.8% of the total amount, which is 0.6 percentage point more than the same period in the previous year. The export was 3.18 trillion yuan, increased by 12.7% and the import was 2.93 trillion yuan, increased by 31.4%. The trade surplus was 243.36 billion yuan, which has narrowed by 58.5%. At the same time, the import and export of processing trade stood at 3.04 trillion yuan, increased by 15.4% and accounting for 28.3% of the total amount.

  Import and export with European Union, the United States and ASEAN countries have increased. In the first five years, the European Union became China’s largest trading partner. The trade volume amounted to 1.6 trillion yuan in total, increased by 16.1% and accounting for 14.8% of the total amount. The United States became China’s second largest trading partner. The trade volume amounted to 1.51 trillion yuan, increased by 21.1% and accounting for 14% of the total amount. ASEAN countries became China’s third largest trading partners. The trade volume amounted to 1.35 trillion yuan, increased by 23.2% and accounting for 12.5% of the total amount.

  Electromechanical products and traditional labor-intensive products are the main export. In the first five months, China’s export of electromechanical products was 3.37 trillion yuan, increased by 14.2% and accounting for 57.3% of the total export. The export of seven labor-intensive products, including clothes, textile, furniture, shoes, plastic products, bags and toys amounted to 1.2 trillion yuan, increased by 12.8% and accounting for 20.3% of the total export.


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