NDRC: Import Prices Of Commodities In The First Three Quarters Are Still Rising.

First financial news: state

The NDRC statistics show that, in terms of agricultural products, grains in the first three quarters and

In terms of resource products, the average import price of iron ore imports increased by 35.4% during the same period, and the average import price of crude oil was 768.9 US dollars / ton, up 37.7%; the average price of refined oil imports was 794.6 US dollars / ton, up 35.1%; the average import price of imports of billets and crude forgings was 1153.4 US dollars / ton, up by 27.8%; the average import price of scrap copper was 3511.6 US dollars / ton, rising by 27.6%; the average import price of imports of non forging copper and copper was 9484.2 U. S. dollars / ton, increasing by 165.7;

The statistics released by the national customs administration showed that in the first three quarters of this year, China's foreign trade and import volume totaled US $2 trillion and 677 billion 440 million, an increase of 24.6% over the same period last year.

Of which, exports amounted to 1 trillion and 392 billion 270 million US dollars, an increase of 22.7%; imports of US $1 trillion and 285 billion 170 million, an increase of 26.7%; the cumulative foreign trade surplus of US $107 billion 100 million, a decrease of 10.6%.

As for September, China's total foreign trade imports and exports totaled US $324 billion 830 million, an increase of 18.9% over the same period last year.

Of which, exports amounted to 169 billion 670 million US dollars, an increase of 17.1%; imports of US $155 billion 160 million, an increase of 20.9%; the foreign trade surplus of that month was US $14 billion 510 million, a decrease of 12.4%.

The NDRC pointed out that the rise in import and export prices played a bigger role in the growth of import and export volume.

In the past three quarters, among the 23 key export commodities for customs monitoring, the export of the other 19 commodities increased in addition to 4 commodities, such as rice, sugar, billet, rough forgings and color television receivers.

Of the 19 commodities, 73.7% of the total (14) export growth was mainly due to the rise in export prices, of which 42% of the commodities (8 kinds) increased in export prices, but the number of exports declined.

According to the Ministry of Commerce statistics, in the first three quarters, the average price of China's exports rose by 9.9%, an increase of 8.2 percentage points over the same period of last year. After deducting price factors, the actual export volume increased by 11.7%, down 20.1 percentage points compared to the same period.

Over the same period, the import of 42 other key commodities, including 11 kinds of tariff quota commodities, increased by 7 other commodities except alumina, aircraft, corn, wool, fertilizer, urea, hydrogen phosphate and two amines.

Of the 35 commodities, the increase in imports of 82.9% of the commodities (29 kinds) was mainly due to the increase in import prices, of which 60% of the imports (21 kinds) were higher, but the import volume declined.

The NDRC also revealed that in the first three quarters, the bilateral trade volume between China and the top three largest trading partners, namely the European Union, the United States and ASEAN, was 422 billion 510 million US dollars, 325 billion 930 million US dollars and 267 billion 90 million US dollars respectively, up 20.9%, 17% and 26.4% respectively compared with the same period last year, and the bilateral trade volume with Japan was 253 billion 450 million US dollars, which also increased by 18.2%.

In addition, the bilateral trade volume with South Africa increased by 88.2%, and the bilateral trade volume with Russia increased by 43.8%, and the bilateral trade volume with Australia, Brazil and New Zealand increased by more than 35%.

Over the same period, the trade surplus under processing trade amounted to 263 billion 920 million US dollars, an increase of 17%, and the surplus was 2.5 times the overall surplus. Under general trade terms, the trade deficit was 67 billion 570 million US dollars, an increase of 85.6%.

The NDRC emphasized that the trade surplus between China and the US and Europe is still expanding.

In the first three quarters, China and the United States achieved a trade surplus of US $145 billion 400 million, an increase of 9.7%; and the EU achieved a trade surplus of US $108 billion 120 million, an increase of 5.3%; the total surplus was 2.4 times the overall surplus.