Import And Export Data Improve Foreign Trade Surplus In March

On April 14th, Li Kuiwen, director general of the General Administration of customs and director of the statistical analysis Division, said at the press conference held by the Information Office of the State Council, according to customs statistics, the total value of import and export of goods trade in China in the first quarter was 6 trillion and 570 billion yuan, down 6.4% from the same period last year. Among them, exports were 3 trillion and 330 billion yuan, down 11.4%; imports 3 trillion and 240 billion yuan, down 0.7%; trade surplus 98 billion 330 million yuan, 80.6% reduction.

"In the first quarter, China's import and export decreased by 6.4%, but the decline in March was significantly narrowed by 3.1 percentage points over the first 2 months, and the import and export of foreign trade rebounded." Li Kuiwen introduced that in March, China's foreign trade import and export amount was 2 trillion and 450 billion yuan, down 0.8% compared to the same period last year. From the ten days' point of view, import and export in the middle and late March and two consecutive days have achieved positive growth. Among them, exports dropped to 3.5% in March, while imports increased by 2.4%. The trade balance also shifted from a deficit in the first 2 months to a surplus.

In this regard, CITIC Securities fixed income chief analyst clearly told the Securities Daily reporters that the export growth rate in March was higher than expected for two reasons: first, due to the suspension of production during the Spring Festival, some of the export enterprises' backlog of orders failed to deliver in time (the latest February export delivery value grew by -19.1% compared to the same period), in March, with the introduction of a number of countries. Stable foreign trade measures, export enterprises gradually resumed production, resumption of production, pre orders have been delivered. Two, export related items such as medical supplies and exports support the export level, for example, the export of pharmaceutical materials and medicines in the first quarter was 5 billion 250 million yuan, an increase of 6.3%. At the same time, the change of RMB exchange rate in March also played a certain role in promoting exports.

In addition, Li Kuiwen also said that in March, domestic demand promoted import performance. With the gradual recovery of domestic industrial production and residents' life, China's strong domestic market potential is gradually released. In the first quarter, China's import value dropped by 0.7%, of which imports increased by 2.4% in March. In particular, driven by the import growth of meat and sugar, the import of consumer goods increased by 13% in the first quarter, while the import value of raw materials such as coal, crude oil, metal ores and integrated circuits increased by 23.8%, 8.3%, 6.8% and 13.1% respectively. China's strong domestic market contributes to the creation of global aggregate demand.

But what is noteworthy is that the current global new crown pneumonia epidemic is spreading and has a serious impact on the world economic development. Recently, the International Monetary Fund recently predicted that the global economy will decline this year. The world trade organization also predicted that the global trade in goods will decline this year. The shrinking demand in the international market will inevitably impact on China's foreign trade exports, and the reduction of new orders in foreign trade will gradually appear. The difficulties faced by China's foreign trade development should not be underestimated. " Li Kuiwen said.

As for the continuous spread of the international epidemic, the difficulties facing China's foreign trade and import and export are increasing, and Fu Fu, a senior research fellow of Suning Financial Research Institute, told the Securities Daily that the new crown pneumonia epidemic prompted China to further promote the high level of opening up to the outside world, which is an opportunity to enhance the service level and optimize the business environment, especially in the current new formats and modes. Even with the emergence of foreign trade enterprises, they are facing new vitality. To this end, foreign trade enterprises should take the initiative to make changes and actively expand new fields, so as to usher in a new development through difficulties. For example, the "cloud mode" will be used to promote exchanges with other countries and order contracts, so as to promote the steady development of foreign trade.

Ming said, "the late foreign trade situation is still challenging. Take PMI as an example. Although manufacturing PMI achieved 52% in March, it returned to the expansion section, but in March, the new export orders for manufacturing industry in China were 46.4%, significantly lower than the overall level. In the case of declining global demand, the need for a stable foreign trade policy to play a further role can make a more detailed distinction between policy guidance and orientation, such as the differentiation of trade partner risks, the distinction between foreign trade sectors and key enterprises.

"Besides, controlling the epidemic situation is a necessary condition for stable foreign trade. We can see that the overall situation of China's epidemic is effectively controlled, which will also provide favorable conditions for trade and commodity exchange. On the micro body, we can continue simplifying the operation process of customs clearance, strengthening mutual recognition of quarantine certificates among countries, lowering the cost of customs clearance and raising the level of export tax rebates, and continuing to promote the cooperation of foreign trade along all the other countries along the route. We can also help enterprises to slow down the pressure of cash flow from loan policies and so on.