Prices Surged, Leather Base Imports Of Raw Materials Fell

Export growth of processing trade has obviously slowed down.

According to the latest statistics from the Guangdong branch of the General Administration of customs, the total value of import and export trade of our province in June this year was 340 billion 420 million US dollars, an increase of 22.8% over the same period last year.

Specifically, exports of US $197 billion 720 million, an increase of 26.4%, and imports of US $142 billion 700 million, an increase of 18.2%.

In the first 7 months, our province achieved a foreign trade surplus of US $55 billion 20 million, a huge increase of 1.5 times compared with the same period last year, accounting for 40.2% of the country's foreign trade surplus.

    單月出口增幅如坐“過山車”

According to the single month statistics, in June, the total import and export value of the province was 54 billion 620 million US dollars, an increase of 23.7%.

Of which, exports of US $31 billion 690 million, an increase of 26%, and imports of US $22 billion 930 million, an increase of 20.6%.

Data show that in recent years, our province's foreign trade exports show obvious wave changes.

To sum up, that is, the accelerated growth in 1-2 months, the rapid decline in March, the steady recovery in 4 and May, the sharp rise in June and the decline in July. The difference between the maximum growth rate in the single month and the minimum growth rate is 27.7 percentage points, of which the general trade growth rate in February and March is 100.2 percentage points.

The head of the Department of foreign trade statistics of the Provincial Bureau of statistics pointed out that this was mainly due to the expected impact of national policies.

At the beginning of this year, many export enterprises were worried that a tight export policy would be introduced this year. In order to avoid the adverse effects of the policy adjustment such as the export tax rebate reduction and so on, they would rush to export, resulting in the high export growth in 1 and February.

In June 19th, the state re drastically adjusted the export tax rebate policy for some commodities, involving 2831 commodities, accounting for 37% of the total number of goods in the customs tariff.

Many enterprises rushed out of their exports before the policy came into effect in July 1st, resulting in a significant increase in export scale and surplus in the same month, which all reached a record high of 31.8% and 77.9% respectively.

    政策效應下加工貿易增速明顯趨緩

Last year, the state adopted some measures to reduce export tax rebates, restrict the export of high energy consumption, high pollution and resource products, and adjust the corresponding processing trade policies. The export of textile, clothing, shoes, bags, furniture, plastic products and other traditional bulk export commodities were classified as processing trade restrictions and other measures to control exports.

This effect has already appeared, the export growth of processing trade has obviously slowed down, exports in the first half year increased by 19.7%, and the growth rate dropped by 2.7 percentage points.

From the single month trend, the effect is more obvious: in 3, 4, 5 and June, the export growth rate of processing trade in single month was 18.5%, 12.1%, 16.5%, 19.8% and 20.2% respectively, and the import growth rates were 2.6%, 8.4%, 13.4%, 13.4% and 13.4% respectively, much lower than the growth rate of export growth and growth of imports.

Soaring prices lead to reduced imports of major raw materials

It is worth noting that the price of raw materials such as steel, natural rubber, synthetic rubber, sawn timber, leather, textile synthetic fiber and other basic raw materials increased sharply as prices surged.

From the data of 1-6 months, 3 million 910 thousand tons of steel imports fell 5.9%, and import value was 3 billion 670 million US dollars, an increase of 13.3%.

The import volume and value of raw materials such as alumina, refined oil, paper and paperboard, and UN Forging Aluminum all decreased. The import volume and value of alumina decreased by 45.3% and 52.7% respectively, and the volume and value of finished oil decreased by 20.7% and 20.7% respectively.