The "transcript" of imports and exports in the past 10 months shows the resilience of China's foreign trade.
According to customs statistics, in the first 10 months of this year, China's total import and export value was 34.62 trillion yuan, a year-on-year increase of 9.5%. Among them, exports were 19.71 trillion yuan, an increase of 13%. Imports were 14.91 trillion yuan, an increase of 5.2%. The trade surplus was 4.8 trillion yuan, an increase of 46.7%.
Data show that in the first 10 months, my country's imports and exports to major trading partners such as ASEAN, the European Union, and the United States increased. ASEAN is China's largest trading partner. In the first 10 months, the trade volume with China was 5.26 trillion yuan, an increase of 15.8%, accounting for 15.2% of China's total trade volume. The European Union, the United States, and South Korea are China's second to fourth largest trading partners, with total trade volumes of 4.68 trillion yuan, 4.21 trillion yuan, and 2.02 trillion yuan, up 8.1%, 6.8%, and 6.5% year-on-year, respectively. During the same period, my country's total import and export volume to countries along the "Belt and Road" was 11.23 trillion yuan, an increase of 20.9%.
China's total import and export volume in October was 3.55 trillion yuan, an increase of 6.9%. Among them, exports were 2.07 trillion yuan, an increase of 7%. Imports were 1.48 trillion yuan, an increase of 6.8%. The trade surplus was 586.81 billion yuan, an increase of 7.6%.
Xu Deshun, a researcher at the International Trade and Economic Cooperation Research Institute of the Ministry of Commerce, said that the slowdown in export growth in October was related to the high base in the same period last year, the continued weakening of external demand, and poor logistics caused by the rebound of the epidemic in some parts of my country and the decline in port efficiency. It is reported that the global manufacturing purchasing managers index (PMI) in October was 49.4%, down 0.9 percentage points from the previous month. This is the first time since July 2020 that the data has fallen into the contraction range, indicating that the risk of a global economic recession has increased. According to reports, in response to inflation, some developed economies continued to adopt measures such as raising interest rates and shrinking balance sheets, which led to a further contraction of overseas total demand, which in turn had a greater impact on my country's exports.
my country's foreign trade structure continued to be optimized and upgraded. In the first 10 months, my country's general trade continued to maintain double-digit growth, accounting for 63.8% of foreign trade, of which exports increased by 18.4%. Processing trade was basically the same as the same period last year. In addition, the total import and export volume of my country's bonded logistics was 4.29 trillion yuan, an increase of 9.2%.
Shu Qiting, spokesperson of the Ministry of Commerce, said that there are still many favorable conditions for the steady growth of my country's foreign trade. In the next step, we will strive to maintain foreign trade within a reasonable range, achieve the goal of improving quality throughout the year, and continue to make positive contributions to the recovery of the national economy.
Stabilizing foreign trade is of great significance to stabilizing the economic market. Li Kuiwen, director of the Statistical Analysis Department of the General Administration of Customs, said that the nearly 10% year-on-year growth rate in the first 10 months shows that my country's foreign trade has withstood the impact of multiple unexpected factors, and the scale, quality, and efficiency have simultaneously improved.
Zhang Yu, deputy director of the International Economics and Trade Research Office of the Chinese Academy of Social Sciences, said that in the face of international geopolitical conflicts and the adverse impact of the new crown virus epidemic, China's foreign trade remained at a high level last year, and China's trade in the first 10 months of this year It is not easy to maintain a steady growth in exports. This is inseparable from the implementation of a package of economic stabilization policies and follow-up measures, as well as the continuous optimization of my country's foreign trade structure and regional layout.
The ever-expanding international "WeChat circle of friends" is an important reason. In the first 10 months, China maintained good economic and trade exchanges with major trading partners such as ASEAN, the European Union and the United States. The total trade volume with ASEAN was 5.26 trillion yuan, an increase of 15.8%, accounting for 15.2% of China's total foreign trade, and ASEAN's position as China's largest trading partner was further consolidated.
It is particularly noteworthy that during the same period, the trade volume between my country and countries along the "Belt and Road" increased significantly: the total import and export volume was 11.23 trillion yuan, a year-on-year growth rate higher than the overall growth rate of my country's foreign trade by 11.4 percentage points, driving the overall growth rate of imports and exports to 6.1% percent.
The main driving force is the increasing vitality of foreign trade operators. In the first 10 months of this year, the import and export of private enterprises increased by 14.4% year-on-year, accounting for 50.4% of the country's total foreign trade value, an increase of 2.2 percentage points over the same period last year. Among them, private enterprises with import and export performance increased by 7.4% over the same period last year.
Zhang Yu believes that since the beginning of this year, a series of policies and measures have been introduced to help companies get out of trouble and protect market players, effectively stimulating the vitality of foreign trade companies. The development of new formats and models such as cross-border e-commerce and market procurement trade has also become a positive factor for the stable operation of foreign trade.
Recently, the Qingdao Cross-Border E-Commerce Industrial Park in the West Coast New District of Qingdao has been busy, and workers are stepping up stocking and deployment.
"This year the company stocked up earlier than in previous years. Wang Zhenpeng, Section Chief of the Sixth Section of the Huangdao Customs Port Supervision Office of Qingdao Customs, said, "Most of the promotions and pre-sales on major platforms started at the end of October. "According to the experience of previous years, the "Double Eleven" period is the peak period for e-commerce sales. We have adopted a series of measures to deal with the substantial increase in cross-border e-commerce sales." .
The competitiveness of high value-added and high-tech products is also emerging. In the first 10 months of this year, China's mechanical and electrical products exported 11.25 trillion yuan, an increase of 9.6% over the same period last year, accounting for 57.1% of total exports. Among them, the export of electric passenger vehicles, lithium batteries and solar cells increased by 116.2%, 87.1% and 78.6% respectively.
Li Kuiwen said that the export of electric passenger vehicles has doubled, and the export of electromechanical products such as lithium batteries and solar cells has increased by about 80%, reflecting the upgrading and optimization of my country's export structure.
At the same time, it should be noted that due to factors such as weak external demand and fluctuations in the RMB exchange rate, the total value of my country's imports and exports in October fell by 0.4% year-on-year, and the growth rate of foreign trade slowed down. As the growth momentum of the world economy and global trade weakens, some new uncertainties in the development of foreign trade have also weakened the expectations of some market players.
On the whole, my country's foreign trade has a good industrial foundation, foreign trade enterprises' performance and innovation capabilities have been continuously enhanced, and their trade with the global market has become closer. "Strive to keep the operation of foreign trade within a reasonable range, achieve the goal of maintaining stability and improving quality throughout the year, and continue to make positive contributions to the recovery of the national economy."