China’s export grew by 5.1% in July, better than expected

By | August 8, 2013

20130808-145937.jpg
China’s export grew by 5.1% in July, better than expected

General Administration of Customs today released the July foreign trade data. According to statistics, in July this year China’s import and export value totaled 2.19 trillion yuan (equivalent to 354.16 billion U.S. dollars), an increase of 7.8% compared with same period last year (the same below), showing a steady upward trend. From breakdown, exports hit 1.15 trillion yuan (equivalent to 185.99 billion U.S. dollars), an increase of 5.1%; imports amounted 1.04 trillion yuan (equivalent to 168.17 billion U.S. dollars), up 10.9 percent; in July growth rates of both export and import turned from negative to positive compared to June, the monthly trade surplus totalled 109.77 billion yuan (equivalent to 17.82 billion U.S. dollars), a decrease of 29.6%.

In term of the on bilateral trade with major trading partners, only the trade with Japan witnessed a decline. In July, bilateral trade between Europe and China reached 50.33 billion U.S. dollars, an increase of 5%; bilateral trade with US amounted to 44.31 billion U.S. dollars, an increase of 10%; bilateral trade between ASEAN and China reached 37.17 billion U.S. dollars, an increase of 13.1%. During the same period, the trade volume between mainland and Hong Kong amounted to 29.28 billion U.S. dollars, an increase of 2.8%; the Sino-Japanese bilateral trade was 27.08 billion U.S. dollars, down 6.1%.

Customs statistics showed that Guangdong, Jiangsu and other 5 provinces accounted for nearly 80% of the total import and export, export of some provinces in central and western regions are active. In July, Guangdong import and export value hit $ 85.63 billion, an increase of 4.5%. During the same period, Jiangsu, Shanghai and Beijing (including the state-owned institutions in Beijing) imports and exports were 48.56 billion, 39.67 billion and $ 38.13 billion respectively, an increase of 4.3%, 3.1% and 18.9% respectively. In addition, Zhejiang, Shandong and Fujian import and export value reached 30.93 billion, 22.25 billion and $ 14.7 billion respectively, an increase of 13.5%, 6.2% and 11.9% respectively. Total import and export value of the seven provinces representing 79% of China’s total foreign trade.

From the export side, in July Guangdong’s export reached 49.94 billion U.S. dollars, an increase of 3.9%. exports of Jiangsu and Zhejiang were 28.35 billion, 23.36 billion U.S. dollars respectively, an increase of 2.1% and 18% respectively; Shanghai export value totalled 17.62 billion U.S. dollars, down 3.7%. Meanwhile, export of Shandong, Fujian and Beijing were 11.05 billion, 9.05 billion and $ 5.35 billion respectively, an increase of 1.2%, 6.9% and 6.4% respectively. In addition, some provinces in central and western regions maintained a rapid growth in exports, the growth rate of Sichuan, Henan, Hunan and Shanxi were 11.3%, 44.3%, 61% and 110% respectively.

In July, foreign-invested enterprises’ import and export value reached 162 billion U.S. dollars, an increase of 2.4%. During the same period, Chinese private enterprises’ import and export totaled 117.1 billion U.S. dollars, an increase of 15%, higher than the overall growth rate of 7.2 percentage points of national foreign trade, accounting for 33.1% of total foreign trade. In addition, state-owned enterprises’ import and export value reached 67.05 billion U.S. dollars, an increase of 7.1%.

Leave a Reply