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In the first two months of this year, China's import and export increased by 32.2%

  • Author:Lynette
  • Source:Economic Daily
  • Release on:2021-03-09
Core tip: in the first two months of this year, China's import and export value of goods trade was 5.44 trillion yuan, up 32.2% year on year.

According to the data released by the General Administration of Customs on the 7th, in the first two months of this year, China's total import and export value of goods trade was 5.44 trillion yuan, up 32.2% year on year. Among them, export was 3.06 trillion yuan, an increase of 50.1%; import was 2.38 trillion yuan, an increase of 14.5%; trade surplus was 675.86 billion yuan, a deficit of 43.3 billion yuan in the same period last year.

In February, the total value of China's foreign trade import and export was 2.42 trillion yuan, an increase of 57%. Among them, export was 1.33 trillion yuan, up 139.5%; import was 1.09 trillion yuan, up 10.3%; trade surplus was 247.28 billion yuan, up from 426.65 billion yuan in the same period last year.

One belt, one road to economic and trade cooperation, has been expanding continuously, especially with the economic and trade cooperation with all countries along the belt and road. It has expanded the space for China's foreign trade development and played an important supporting role in the continuous improvement of China's foreign trade. Data show that in the first two months, China's imports and exports to ASEAN, EU, the United States and Japan were 786.2 billion yuan, 779.04 billion yuan, 716.37 billion yuan and 349.23 billion yuan respectively, up 32.9%, 39.8%, 69.6% and 27.4% respectively. One belt, one road and one country along the way, totaled 1 trillion and 620 billion yuan, an increase of 23.9%.

Foreign trade in the central and western regions was active, and the proportion of imports and exports continued to increase. Customs statistics show that in the first two months, the import and export of China's central and western regions reached 975.11 billion yuan, a year-on-year increase of 55.8%, 23.6 percentage points higher than the overall growth of China's foreign trade, and the proportion of China's import and export increased by 2.7 percentage points to 17.9% compared with the same period last year.

"This fully reflects that China's central and western regions continue to give full play to their own advantages, enhance their ability to undertake industrial transfer, and further explore the potential of foreign trade, which will help consolidate the achievements of poverty alleviation and comprehensively promote rural revitalization." Li Kuiwen, spokesman of the General Administration of customs, said.

Li Kuiwen said that the import and export of foreign trade in the first two months increased significantly, and "the off-season is not weak", continuing the trend of continuous improvement of import and export since June last year. There are three main reasons

First, the production and consumption boom of major economies such as Europe and the United States has picked up, and the increase of foreign demand has driven the growth of China's exports. Since the beginning of this year, the PMI index of manufacturing industry in the United States and Europe has maintained a high level. At the same time, thanks to the fiscal stimulus plan, the recovery of consumption in major economies such as the United States and Europe has increased the demand for our products. In addition, this year's Spring Festival advocates "Celebrating the Spring Festival on the spot". Many enterprises in Guangdong, Zhejiang and other major foreign trade provinces have maintained production during the Spring Festival, and orders that can only be delivered after previous years have been delivered normally.

Second, the domestic economy continued to recover steadily, driving the rapid growth of imports. In the first two months of this year, China's economy continued to expand as a whole. The PMI index of manufacturing industry has been on the boom and bust line for 12 consecutive months. The production index and new order index of most industries are above the critical point. Entering the peak production and marketing season after the year, market demand is expected to further rebound, and enterprises are more optimistic about the future. Data show that the import volume of integrated circuits, iron ore, crude oil and other products increased by 36%, 2.8% and 4.1% respectively.

Third, the base was low in the same period last year. Affected by the novel coronavirus pneumonia, imports and exports in February last year dropped 9.7% year-on-year. From the perspective of the freight volume and other indicators supervised by the customs, the freight volume and containers are basically consistent with the trend of import and export value.

"This year, the national customs will continue to strengthen the prevention and control of epidemic situation at ports, continuously optimize the business environment at ports, support the creation of a high-level opening-up platform, deepen reform and innovation, consolidate and expand the effectiveness of prevention and control of epidemic situation at ports and promote the steady growth of foreign trade, and constantly promote the steady growth of foreign trade volume." Li Kuiwen said.
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