Commodity Prices Increased By &Nbsp; Cost Pressures Of Export Enterprises Increased.

First half year in Exit The total value increased by 25.8% over the same period last year. Exit Growth slowed for 4 consecutive months

Foreign trade growth slowed down surplus narrowed

In July 10th, the Customs General Administration released the China Customs portal website. From 1 to June this year, the total value of China's imports and exports was US $1 trillion and 703 billion 670 million, an increase of 25.8% over the same period last year. Of which, exports of US $874 billion 300 million, an increase of 24%, and imports of US $829 billion 370 million, an increase of 27.6%. The cumulative surplus was $44 billion 930 million, narrowing 18.2%.

　　 Customs Statistics show that the growth rate of foreign trade in the first half of this year showed a marked downward trend. From January to June, the growth rate of imports and exports in single month was 44%, 10.7%, 31.4%, 25.9%, 23.5% and 18.5% respectively. In addition, export growth also declined for 4 consecutive months, and in March, April, May and June were 35.8%, 29.9%, 19.4% and 17.9% respectively.

　　 The 4 main reason is the decline in export growth.

According to Zhao Fudi, spokesman of the Customs General Administration and director of the general office, the total value of China's imports and exports was 301 billion 690 million US dollars in the month of June, an increase of 18.5%. Of which, exports of US $161 billion 980 million, an increase of 17.9%, and imports of US $139 billion 710 million, an increase of 19.3%. Compared with May, the growth rate of imports and exports dropped by 5 percentage points in June, and the export growth rate dropped by 1.5 percentage points.

Zheng Yuesheng, director general of the Statistics Department of the General Administration of customs, analyzed the decline in export growth in the first half of the year, mainly due to the following 4 reasons:

First, in the first half of last year, the monthly scale of China's foreign trade is gradually picking up, and the base is rising. Second, the global economic recovery is slow and still full of variables. The European sovereign debt crisis has not yet passed. The political turmoil in the Middle East and North Africa has exacerbated the uncertainty in the growth of China's foreign trade. Third, influenced by factors such as labor cost and RMB exchange rate rise, the export price competitive advantage of China's labor-intensive products is weakening. Fourth, in the short term, the Japanese earthquake caused some supply chains to break, which also had a certain impact on China's foreign trade.

Zheng Yuesheng believes that Europe and the United States are China's major export markets. In the first half of this year, its economic recovery process was slow, the unemployment rate continued to remain high, and consumer confidence remained low, leading to a marked slowdown in exports. Customs statistics show that before June, I exported $164 billion 480 million and $145 billion 510 million to the EU and the US respectively, with a growth rate of 16.9%, which is significantly lower than the total growth rate of China's exports during the same period of 24%.

Statistics show that in the first half of the year, processing trade is still the main source of China's current trade surplus. Before June, the trade deficit under general trade amounted to 57 billion 990 million US dollars, an increase of 55.4%, a surplus of 164 billion 250 million US dollars in processing trade, and the surplus was 3.6 times that of China's overall surplus over the same period. With the overall trade surplus narrowing by 18.2% over the same period, the surplus in processing trade is still expanding by 19.8%.

　 Higher commodity prices and higher cost pressures for export enterprises.

Zhao Fudi believes that since the beginning of this year, global commodity prices have been rising, raising the prices of China's imports, especially energy and resources, to a certain extent, increasing the pressure of imported inflation in China.

Customs statistics show that in the first half of this year, the import price of some major commodities in China increased by more than 30%, of which the average price of iron ore imports rose 42.5%, crude oil rose 33.2%, refined oil rose 31.5%, and soybeans increased 30.4%. The import prices of these commodities rose sharply, leading to a 14.7% rise in the total price of imports in the first half of this year.

With the increase in commodity prices and appreciation of the renminbi, export enterprises are generally faced with greater cost pressures.

Ge Guorong, deputy general manager of Hangzhou CIC Rubber Co., Ltd., told reporters that compared to the end of last year, the average cost of raw materials in rubber industry has increased by more than 30%.

Zhang Yuqiang, chairman of China's glass fiber industry leading enterprise giant stone group limited, said: "only by targeting high-end adjustment structure, speeding up technological upgrading and product mix adjustment, and strengthening R & D and management innovation can we overcome difficulties and foster new growth points."

　　 Focusing on the future, changing the mode of foreign trade development is the top priority.

Analysts pointed out that in the second half of this year, the global economic recovery is slow and still full of variables. Focusing on the future, changing the mode of foreign trade development is still the top priority.

Customs statistics show that in the first half of this year, the export of labour intensive products in China has maintained a steady growth, of which the growth rate of exports of textiles and bags is higher than that of China's overall export growth at the same time. Meanwhile, the export growth rate of high-tech products continues to decline.

Before June, China's mechanical and electrical products exported 498 billion 160 million US dollars, an increase of 19.5%, the growth rate dropped 16.4 percentage points over the same period last year. Electrical and electronic products exported 204 billion 770 million US dollars, an increase of 21.4%, the growth rate dropped 14.3 percentage points compared with the same period last year; machinery and equipment exports 163 billion 240 million US dollars, an increase of 15.1%, the growth rate dropped 21.4 percentage points over the same period last year.

Zheng Yuesheng said that the current global mobile phone, computer and television based terminal equipment has slowed down. The Japanese earthquake has blocked the production of raw materials and restricted exports to China, resulting in the lack of a strong growth point in the overall export of high-tech products in China. The export growth rate has slowed down and its share has declined.