On April 12, the State Council Information Office held a press conference on the import and export situation in the first quarter of 2024. Wang Lingjun, Deputy Director of the General Administration of Customs, said that in the first quarter of this year, the quality of China's foreign trade development was steadily improved, and the scale of import and export reached a new level.
The specific analysis mainly has the characteristics of the following five aspects:
First, the import and export scale exceeded 10 trillion yuan for the first time in the same period, and the import and export growth rate reached a new high in six quarters.
According to customs statistics, in the first quarter, the total import and export value of China's goods trade was 10.17 trillion yuan, an increase of 5% year-on-year (the same below). Among them, exports were 5.74 trillion yuan, an increase of 4.9%; imports were 4.43 trillion yuan, an increase of 5%; exports and imports accelerated by 4.1 and 2.3 percentage points respectively compared with the fourth quarter of last year.
Second, the import and export growth rate of the "Belt and Road" countries and other BRICS countries is higher than the overall.
In the first quarter, China's imports and exports of the "Belt and Road" countries were 4.82 trillion yuan, an increase of 5.5%, accounting for 47.4% of the total import and export value, an increase of 0.2 percentage points year-on-year. Among them, imports and exports to ASEAN were 1.6 trillion yuan, an increase of 6.4%. During the same period, imports and exports to 9 other BRICS countries were 1.49 trillion yuan, an increase of 11.3%, accounting for 14.7%.
In addition, imports and exports to the European Union, the United States, South Korea and Japan are 1.27 trillion yuan, 1.07 trillion yuan, 535.48 billion yuan and 518.2 billion yuan respectively, accounting for a total of 33.4%.
Third, the import and export of private enterprises maintained double-digit growth.
In the first quarter, the import and export of private enterprises in China was 5.53 trillion yuan, an increase of 10.7%, accounting for 54.3% of the total import and export value, half of the country. During the same period, the import and export of foreign-invested enterprises was 2.97 trillion yuan, accounting for 29.3%; the import and export of state-owned enterprises was 1.64 trillion yuan, accounting for 16.1%.
Fourth, the export momentum of mechanical and electrical products and labor products is good.
In the first quarter, China's exports of mechanical and electrical products were 3.39 trillion yuan, an increase of 6.8%, accounting for 59.2% of the total export value; among them, computers and their parts, automobiles and ships increased by 8.6%, 21.7% and 113.1% respectively.
During the same period, the export of labor-intensive products was 975.72 billion yuan, an increase of 9.1%; among them, textile and clothing, plastic products, furniture and their parts increased respectively.5.4%, 14%, 23.5%.
Fifth, the import of commodities and consumer goods for people's livelihood has steadily expanded.
In the first quarter, China's imports of energy, metal ores, grain and other commodities increased by 6.2%. Among them, energy products such as crude oil, natural gas and coal 286 million tons, an increase of 8%; iron, aluminum and other metal ores were 374 million tons, an increase of 5%; and 38.16 million tons of grain, an increase of 5.1%.
During the same period, the import of electromechanical products increased by 9.6%, of which the import of electronic components increased by 13%. In addition, imports of textiles and clothing, dried fresh melons and nuts increased by 12.6% and 18% respectively.
Source: Souhang Network
