The Downturn In Foreign Trade May Continue For Some Time.

The import and export situation is still weak this year.

Customs statistics show that in the first two months of this year, the total value of China's imports and exports was 3 trillion and 310 billion yuan, down 12.6% from the same period last year.

Of which, exports were 1 trillion and 960 billion yuan, down 13.1% compared to the same period last year; imports were 1 trillion and 350 billion yuan, down 11.8% compared to the same period last year; the trade surplus was 615 billion 900 million yuan, narrowing 15.9%.

For the present

"This situation was seen only in the 2008 and 2009 international financial crisis," Bai Ming told reporters.

Insiders pointed out that because of the early impact of the Spring Festival holiday on the production, inventory and delivery of the enterprises earlier than last year, the reference frame in this year's calculation of the magnitude of the year-on-year change is distorted, and the actual economic performance may not be as bad as the surface data show.

Lu political commissar believes that the volume of exports to all economies in a neat way down, appears to be related to the Spring Festival holiday, but the total value of imports and the year-on-year decline were 16.7% and 8% respectively. The import decline has narrowed. The Spring Festival can not only affect exports but not affect imports. This shows that the "diving" again has little to do with the Spring Festival.

Besides,

Further analysis to reporters pointed out that the import demand of the US, EU and other economies has not deteriorated further since 2014, and the import decline of Russia, India and other economies has also narrowed recently. This shows that China's export environment has not deteriorated further. It can be said that the export decline in February exceeded expectations and had little to do with external demand.

It is worth noting that in the analysis report of our foreign trade in the first two months of this year, the General Administration of Customs specifically mentioned the traditional labor-intensive products such as electromechanical products, textiles and garments.

Decline.

In the view of Lu commissar, the export of textile, clothing, footwear and other labor-intensive products increased significantly, while the export of technology intensive export such as automatic data processing equipment and integrated circuits was relatively stable. This may mean that the rise of labor costs in China is eroding the competitive advantage of labor-intensive industries.

It is worth mentioning that in March 7th, the official website of the National Bureau of Statistics said that in addition to the impact of weak external demand, the new trade rules and industry standards also brought challenges to China's steady growth in foreign trade.

In the first two months, China's mechanical and electrical products exported 1 trillion and 110 billion yuan, down 12.2%, accounting for 56.6% of the total export value.

In the same period, clothing exports were 157 billion 50 million yuan, down 11.8%; textiles 100 billion 530 million yuan, down 9.3%; footwear 52 billion 80 million yuan, 17.3%; furniture 51 billion 790 million yuan, 17.8%; plastic products 34 billion 950 million yuan, fell 11%; bag and luggage 25 billion 630 million yuan, decreased 25 billion 630 million; toy yuan yuan, growth;