Foreign trade exports exceeded expectations in July, and the home building materials market continued to improve

The General Administration of Customs of the People’s Republic of China announced the cumulative import and export data for July and January-July this year. The main information related to some furniture exports is as follows (in RMB): The export value of furniture and its parts in July was 39.21 十億元, の増加 12.2 compared to June. %; the cumulative export value from January to July was 19,682 百万元, 下 2.6% from the same period in 2019 (前年比), and the decline was 6 percentage points narrower than that from January to June. The situation continued to improve.
From January to July, the cumulative export value of related products in the four categories of furniture, lamps, lighting devices and parts, ceramic products and textile products was 1,039.89 十億元, の増加 23.6% from the cumulative data from January to June.
Except for furniture, textile exports amounted to 634.22 十億元, 前年比増加 35.8%. Lamps and lanterns were 124.8 十億元, 上 2.7% 前年比; ceramics were 84.05 十億元, 下 25.4% 前年比. Overall, from January to July this year, the total value of my country’s imports and exports of goods trade was 17.2 trillion yuan, 前年比の減少 1.7%, and the rate of decline narrowed by 1.5 percentage points from January to June. その中で, exports were 9.4 trillion yuan, 下 0.9% 前年比, and the rate of decline narrowed 2.1 percentage points from January to June; imports were 7.8 trillion yuan, 下 2.6% 前年比, and the rate of decline narrowed 0.7 percentage points from January to June; trade surplus 1,631.15 十億元.
In July, my country’s foreign trade imports and exports were 2.9 trillion yuan, 前年比増加 5.8%. その中で, exports were 1.7 trillion yuan, 前年比増加 9.3%; imports were 1.2 trillion yuan, 前年比増加 1.4%; the trade surplus was 442.24 十億元.
Imports and exports to ASEAN, the European Union and Japan increased, while imports to the United States declined. In the first seven months, China’s total trade value with ASEAN was 2.51 trillion yuan, の増加 6.6%, を説明する 14.6% of China’s total foreign trade value. その中で, China’s exports to ASEAN were 1.4 trillion yuan, の増加 5.6%; imports from ASEAN were 1.11 trillion yuan, の増加 7.8%; the trade surplus with ASEAN was 288.13 十億元, a decrease of 2.1%.
The total value of trade with the EU was 2.41 trillion yuan, の増加 0.1%, を説明する 14% of our total foreign trade value. その中で, China’s exports to the EU were 1.47 trillion yuan, の増加 4%; imports from the EU were 936.72 十億元, a decrease of 5.6%; and the trade surplus with the EU was 534.78 十億元, の増加 26.5%.
The total value of Sino-US trade was 2.03 trillion yuan, 下 3.3%, を説明する 11.8% of our total foreign trade value. その中で, China’s exports to the United States were 1.56 trillion yuan, a decrease of 4.1%; imports from the United States were 475.5 十億元, a decrease of 0.3%; the trade surplus with the United States was 1.08 trillion yuan, a decrease of 5.7%.
The total value of Sino-Japanese trade was 1.22 trillion yuan, の増加 1.1%, を説明する 7.1% of our total foreign trade value. その中で, exports to Japan were 557.13 十億元, の増加 0.2%; imports from Japan were 666.85 十億元, の増加 1.8%; the trade deficit with Japan was 109.72 十億元, の増加 10.8%.
The import and export of private enterprises increased and their proportion increased. In the first seven months, the import and export of private enterprises was 7.83 trillion yuan, の増加 7.2%, を説明する 45.6% of our total foreign trade value, の増加 3.8 percentage points over the same period last year. その中で, exports were 5.12 trillion yuan, の増加 6.4%, を説明する 54.5% of the total export value; imports were 2.71 trillion yuan, の増加 8.7%, を説明する 34.9% of the total import value.
Analysts said that the performance of foreign trade exports in July exceeded expectations. With the accelerated resumption of overseas work and production, the external demand situation is expected to be gradually restored, and exports are expected to stabilize in a positive growth range.
Tang Jianwei, chief researcher of the Bank of Communications Financial Research Center, said that China’s exports have achieved positive growth, which is better than the export situation of neighboring countries, indicating that China’s export competitiveness is still strong. From the perspective of trade regions, China’s imports and exports with ASEAN continued to grow, and ASEAN became my country’s largest trading partner, making a significant contribution to the resilience of China’s exports throughout the first half of the year, including July.
The leading manufacturing Purchasing Manager Index (PMI) also confirms the authenticity of the improved export data. China’s manufacturing PMI rose to 51.1% 7月, の増加 0.2 percentage points from the previous month, and was above the threshold for five consecutive months. その中で, の “new order index” has rebounded for three consecutive months, which means that my country’s export growth rate is still supported in the short term, and exports in August are expected to continue to maintain positive growth year-on-year.