Home / Knowledge / News / Textiles / Import & export trade continues to improve

Import & export trade continues to improve

13
Aug '09
From January to July this year, China's foreign trade of imports and exports realized US $1146.71 billion in total, down 22.7 percent from the same period last year.

Of which, exports stood at $627.1 billion, down 22 percent and imports touched $519.61 billion, down 23.6 percent, realizing an accumulated trade surplus of $107.49 billion, also down 12.4 percent.

Customs statistics reveal that total value of China's foreign trade for imports and exports reached US $200.21 billion in the month of July, down 19.4 percent year-on-year, but up 9.6 percent from the previous month.

Of this, export value exceeded $100 billion for the first time in this year to $105.42 billion, down 23 percent year-on-year, but up 10.4 percent from the previous month; imports registered $94.79 billion, down 14.9 percent year-on-year, but up 8.7 percent from the previous month.

This shows that China's foreign trade has established a trend of picking up on a month to month basis as it has begun to rebound since five consecutive months since March, after continued decline for five months starting from last October.

Among major trading partners, the European Union continued to be China's largest trading partner. In the first seven months, China-EU bilateral trade value reached $192.73 billion, down 20.7 percent year-on-year.

Over the same period, the United States was China's second largest trading partner; Sino-US bilateral trade value scored $158.68 billion, down 16.1 percent year-on-year. Japan was China's third largest trading partner, as of the end of July this year, bilateral trade between China and Japan realized $119.9 billion, down 22.6 percent.

In addition, in the first 7 months this year, China's import and export value with ASEAN achieved $107.43 billion, down 22.4 percent year-on-year; import and export trade between the Mainland and Hong Kong fetched $88.68 billion, down 23.6 percent.

China's import and export trade with India came to $23.39 billion, down 30.2 percent. Among the top 10 largest trading partners, decline in China's imports and exports with Australia were the smallest at 8.6 percent, of which, imports fell only 5.2 percent.

On export side, exports of labor-intensive products saw a single-digit decline. According to customs statistics, from January to July, exports of clothing and accessories marked $56.93 billion, down 9.1 percent year-on-year.

Exports of footwear stood at $15.71 billion, down 5.2 percent year-on-year; furniture exports indicated $13.75 billion, down 9.8 percent year-on-year; exports of plastic products completed $7.82 billion, down 7 percent.

Over the same period, China's exports of machinery and electronic products scored US $367.71 billion, down 20.8 percent year-on-year.

On import side, iron ore imports recorded 360 million tons, an increase of 31.8 percent; crude oil imports registered 110 million tons, an increase of 5.8 percent; soybean imports marked 26.48 million tons, an increase of 27.7 percent.

Plastics in primary forms touched 13.83 million tons, an increase of 26.6 percent; imports of non-forged copper and copper were 2,643,000 tons, an increase of 75 percent.

Fibre2fashion News Desk - China


Must ReadView All

Pic: Shutterstock

Textiles | On 23rd Aug 2019

Trade war to help India's MMF exports grow by 5-7%: SRTEPC

The US-China trade war has opened up an opportunity, which will help...

Indian cotton spinners’ performance likely to weaken: ICRA

Textiles | On 23rd Aug 2019

Indian cotton spinners’ performance likely to weaken: ICRA

The performance of Indian cotton spinners is likely to weaken in...

Pic: Devan Chemicals

Apparel/Garments | On 23rd Aug 2019

First Devan R-Vital CBD-infused textiles hit the market

Devan Chemicals launched its CBD (Cannabidiol) fabric treatment at...

Interviews View All

Abhishek Samdaria, Reflete

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Vasanth Kumar, Max Fashion India

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Marcel Moser,

Marcel Moser

Switzerland-based Benninger is a leading manufacturer of technologically...

Erwin Devloo,

Erwin Devloo

Picanol develops, produces and markets high-tech weaving machines, based...

Awanda Booth,

Awanda Booth

Held every year in New York City, Surtex is a global business-to-business...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search