As the leading data in the second half of the year, the total import and export volume in July finally changed slightly in the first half of the year, standing on the $200 billion mark. As the Fed’s monetary policy meeting announced that the interest rate history will remain unchanged, the parties expect the US economy to gradually recover, which has also eased China’s export problems from the periphery.
July import and export data is growing positively
According to the detailed data released by the General Administration of Customs on China's foreign trade import and export in the first seven months of this year: from January to July, the total import and export value of China's foreign trade was US$1,146.71 billion, down 22.7% year-on-year. Of this total, exports were US$627.1 billion, down 22% year-on-year; imports were US$519.61 billion, down 23.6% year-on-year. The accumulated trade surplus was 107.49 billion U.S. dollars, a year-on-year decrease of 12.4%.
In July alone, China’s foreign trade import and export value was US$200.21 billion, down 19.4% year-on-year, but the positive growth rate was 9.6%. The export value exceeded 100 billion US dollars for the first time this year, reaching US$105.42 billion. , a year-on-year decrease of 23% and a quarter-on-quarter increase of 10.4%.
This means that the import and export environment that has been sluggish in the first half of the year has finally shown a recovery in the first natural month of the second half of the year: China’s foreign trade import and export has been continuously rebounding for five months since March last year. The decline gradually narrowed, and the monthly recovery trend was basically established.
The external market picks up or drives exports
The warming of the external market environment has also made China's export expectations better. According to the results announced by the Fed's monetary policy meeting recently: it will continue to maintain its historically low benchmark interest rate. Industry analysts predict that the US economy will grow by more than 2% in the second half of this year, twice as fast as expected in June. In addition, the leading indicators of the European and Japanese economies have also rebounded to some extent. It is expected that global economic growth will slowly recover, thus driving China's import and export.
In addition, the requirements for stock replenishment in developed countries are also beneficial to China's export industry. At present, the amount of US manufacturing inventories is close to the end of 2006. International demand will be gradually rebounded by countries' replenishment of stocks, directly increasing the external demand of China's exports.
It is worth noting that although China’s export order index has continued to rise this year, the central bank’s second quarter 2009 entrepreneurial survey shows that current corporate export orders are mainly short-term small orders; China’s exports are mainly concentrated in international competition. Among the labor-intensive products, coupled with the trade protectionism of European and American powers, the pressure of foreign trade recession is still not small.
July import and export data is growing positively
According to the detailed data released by the General Administration of Customs on China's foreign trade import and export in the first seven months of this year: from January to July, the total import and export value of China's foreign trade was US$1,146.71 billion, down 22.7% year-on-year. Of this total, exports were US$627.1 billion, down 22% year-on-year; imports were US$519.61 billion, down 23.6% year-on-year. The accumulated trade surplus was 107.49 billion U.S. dollars, a year-on-year decrease of 12.4%.
In July alone, China’s foreign trade import and export value was US$200.21 billion, down 19.4% year-on-year, but the positive growth rate was 9.6%. The export value exceeded 100 billion US dollars for the first time this year, reaching US$105.42 billion. , a year-on-year decrease of 23% and a quarter-on-quarter increase of 10.4%.
This means that the import and export environment that has been sluggish in the first half of the year has finally shown a recovery in the first natural month of the second half of the year: China’s foreign trade import and export has been continuously rebounding for five months since March last year. The decline gradually narrowed, and the monthly recovery trend was basically established.
The external market picks up or drives exports
The warming of the external market environment has also made China's export expectations better. According to the results announced by the Fed's monetary policy meeting recently: it will continue to maintain its historically low benchmark interest rate. Industry analysts predict that the US economy will grow by more than 2% in the second half of this year, twice as fast as expected in June. In addition, the leading indicators of the European and Japanese economies have also rebounded to some extent. It is expected that global economic growth will slowly recover, thus driving China's import and export.
In addition, the requirements for stock replenishment in developed countries are also beneficial to China's export industry. At present, the amount of US manufacturing inventories is close to the end of 2006. International demand will be gradually rebounded by countries' replenishment of stocks, directly increasing the external demand of China's exports.
It is worth noting that although China’s export order index has continued to rise this year, the central bank’s second quarter 2009 entrepreneurial survey shows that current corporate export orders are mainly short-term small orders; China’s exports are mainly concentrated in international competition. Among the labor-intensive products, coupled with the trade protectionism of European and American powers, the pressure of foreign trade recession is still not small.
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