Data show that from January to October, China's total import and export value was 2,393.41 billion US dollars, an increase of 36.3% over the same period of last year. The scale of import and export has exceeded the level of last year. The data of the Canton Fair, which just ended, shows that China’s exports are not optimistic due to factors such as rising raw material prices, exchange rates and labor costs.
According to data released by the General Administration of Customs today (10th), China’s import and export value in October was US$244.81 billion, a year-on-year increase of 24% and a decrease of 10.4% from the previous month. Of this total, exports were US$135.98 billion, up 22.9% year-on-year and 6.2% quarter-on-quarter; imports were US$108.83 billion, up 25.3% year-on-year and 15% quarter-on-quarter. The trade surplus in October was US$27.15 billion, an increase of US$10.22 billion from September.
As the "barometer" of China's foreign trade, the news revealed by the 108th Canton Fair just concluded is naturally worthy of attention. According to the feedback from exhibitors, China’s exports are not optimistic due to factors such as rising raw material prices, exchange rates and labor costs.
The total value of imports and exports in the first ten months exceeded last year
Data show that from January to October, China's total import and export value was 2,393.41 billion US dollars, an increase of 36.3% over the same period last year (the same below), and the scale of imports and exports has exceeded the level of last year. The scale of exports and imports also exceeded the level of last year, with exports of 1,270.59 billion US dollars, an increase of 32.7%; imports of 1,122.82 billion US dollars, an increase of 40.5%; trade surplus of 147.77 billion US dollars, a decrease of 6.7%.
In the first 10 months of this year, China's general trade import and export was US$119.82 billion, an increase of 40%, which was 3.7 percentage points higher than the national import and export growth rate during the same period. Among them, exports were 579.11 billion US dollars, up 36.5%, higher than the national total growth rate of 3.8 percentage points in the same period; imports were 612.71 billion US dollars, up 43.6%, higher than the national total growth rate of 3.1 percentage points over the same period. Under the general trade, the trade deficit was 33.6 billion US dollars, an increase of 12.9 times compared with the same period of 2009. In the same period, China's import and export of processing trade was 938.9 billion US dollars, up 30.5%, of which exports were 597.51 billion US dollars, up 28.4%; imports were 341.39 billion US dollars, up 34.3%. The trade surplus under processing trade was US$256.12 billion, an increase of 21.3%, equivalent to 1.7 times the overall surplus of the same period.
Canton Fair or indicates that future exports are not optimistic
On the 4th, the 108th Canton Fair was closed. As a barometer of China's foreign trade, the data of the autumn fair in the second half of the year is generally considered to outline the export situation in the fourth quarter and the first quarter of the next year.
Wang Hui, senior analyst of Haitong Securities Macro Securities, said that 200,000 overseas buyers participated in the current Canton Fair, a decrease of 2.3% from the previous session. This data is consistent with the cycle of China and the international economy, indicating that global economic growth is under The impact of the half-year slowdown on international trade.
He said that the cost pressure caused by RMB appreciation and inflation next year will still be the main problem faced by export enterprises. In addition, China's economic transformation will inevitably lead to the transformation of export product structure, and this transformation pressure will gradually emerge from next year. "Overall, China's exports are not optimistic."
Although the specific transaction amount of the Canton Fair has not yet been announced, Liu Jianjun, deputy secretary-general and spokesman of the Canton Fair, said that the turnover of the Canton Fair has increased slightly from the previous session, but it has not recovered to the level before the 2008 financial crisis. The highest level of Canton Fair turnover occurred in April 2008, at $38 billion, compared with $34.3 billion in the previous transaction.
According to data released by the General Administration of Customs today (10th), China’s import and export value in October was US$244.81 billion, a year-on-year increase of 24% and a decrease of 10.4% from the previous month. Of this total, exports were US$135.98 billion, up 22.9% year-on-year and 6.2% quarter-on-quarter; imports were US$108.83 billion, up 25.3% year-on-year and 15% quarter-on-quarter. The trade surplus in October was US$27.15 billion, an increase of US$10.22 billion from September.
As the "barometer" of China's foreign trade, the news revealed by the 108th Canton Fair just concluded is naturally worthy of attention. According to the feedback from exhibitors, China’s exports are not optimistic due to factors such as rising raw material prices, exchange rates and labor costs.
The total value of imports and exports in the first ten months exceeded last year
Data show that from January to October, China's total import and export value was 2,393.41 billion US dollars, an increase of 36.3% over the same period last year (the same below), and the scale of imports and exports has exceeded the level of last year. The scale of exports and imports also exceeded the level of last year, with exports of 1,270.59 billion US dollars, an increase of 32.7%; imports of 1,122.82 billion US dollars, an increase of 40.5%; trade surplus of 147.77 billion US dollars, a decrease of 6.7%.
In the first 10 months of this year, China's general trade import and export was US$119.82 billion, an increase of 40%, which was 3.7 percentage points higher than the national import and export growth rate during the same period. Among them, exports were 579.11 billion US dollars, up 36.5%, higher than the national total growth rate of 3.8 percentage points in the same period; imports were 612.71 billion US dollars, up 43.6%, higher than the national total growth rate of 3.1 percentage points over the same period. Under the general trade, the trade deficit was 33.6 billion US dollars, an increase of 12.9 times compared with the same period of 2009. In the same period, China's import and export of processing trade was 938.9 billion US dollars, up 30.5%, of which exports were 597.51 billion US dollars, up 28.4%; imports were 341.39 billion US dollars, up 34.3%. The trade surplus under processing trade was US$256.12 billion, an increase of 21.3%, equivalent to 1.7 times the overall surplus of the same period.
Canton Fair or indicates that future exports are not optimistic
On the 4th, the 108th Canton Fair was closed. As a barometer of China's foreign trade, the data of the autumn fair in the second half of the year is generally considered to outline the export situation in the fourth quarter and the first quarter of the next year.
Wang Hui, senior analyst of Haitong Securities Macro Securities, said that 200,000 overseas buyers participated in the current Canton Fair, a decrease of 2.3% from the previous session. This data is consistent with the cycle of China and the international economy, indicating that global economic growth is under The impact of the half-year slowdown on international trade.
He said that the cost pressure caused by RMB appreciation and inflation next year will still be the main problem faced by export enterprises. In addition, China's economic transformation will inevitably lead to the transformation of export product structure, and this transformation pressure will gradually emerge from next year. "Overall, China's exports are not optimistic."
Although the specific transaction amount of the Canton Fair has not yet been announced, Liu Jianjun, deputy secretary-general and spokesman of the Canton Fair, said that the turnover of the Canton Fair has increased slightly from the previous session, but it has not recovered to the level before the 2008 financial crisis. The highest level of Canton Fair turnover occurred in April 2008, at $38 billion, compared with $34.3 billion in the previous transaction.
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