Ministry Of Commerce: Operation Of China'S Foreign Trade From January To May 2021

From January to may, China's foreign trade continued to grow, with a total import and export volume of 14.76 trillion yuan in RMB (the same below), reaching a record high in the same period. Import and export, export and import increased by 28.2%, 30.1% and 25.9% respectively on a year-on-year basis, which were the highest levels in the same period in 10 years. Compared with the same period in 2019, the import and export, export and import increased by 21.6%, 23.6% and 19.2% respectively. The main features are as follows:

First, exports to major trading partners grew rapidly. China's exports to major trading partners maintained a high growth rate, especially to the United States, ASEAN and the European Union, with growth rates of 38.9%, 29.3% and 27.9% respectively. Exports to BRICs countries increased by 42.8%, 12.7 percentage points higher than the overall growth rate.

Second, the proportion of general trade mode exports continued to increase. The industrial base is more stable, and the ability of independent development is constantly enhanced. The export of general trade mode increased by 34.5%, and the overall growth rate was increased by 20.3 percentage points, accounting for an increase of 2 percentage points to 60.9% compared with the same period last year.

Third, the competitiveness of foreign trade entities has been further enhanced. From January to may, the export of private enterprises reached 4.53 trillion yuan, an increase of 39.4%, and an overall growth rate of 20.7 percentage points, an increase of 3.4 percentage points to 56.3% compared with the same period last year.

Fourth, the export of mechanical and electrical products and labor-intensive products maintained growth. The export of mechanical and electrical products increased by 31.9%, accounting for a stable proportion. The export of household appliances, auto parts and auto parts increased by 42.6%, 37.6% and 95.8% respectively. Affected by the sharp decline in the export of masks, textiles decreased by 10.3% year-on-year. In addition to textiles, the export of other six categories of labor-intensive products increased by 40.1%, 10 percentage points higher than the overall growth rate.

Fifth, the rising prices of some commodities have boosted the growth rate of imports. From January to may, iron ore, copper, refined oil, soybeans, steel and crude oil rose by 62.7%, 35.1%, 22.1%, 18.7%, 9.8% and 9.1% respectively, and the price factor together increased the import growth rate by 5.7%.

From January to may, excluding the influence of the low base factor last year, China's import and export still maintained a rapid growth, showing a strong foreign trade development toughness.

At present, Xinguan epidemic is still spreading all over the world, and the external environment of China's foreign trade development is still complex and severe. We are highly concerned about the difficulties and challenges faced by foreign trade enterprises in terms of raw material prices, exchange rate fluctuations, and shipping freight. We will continue to work with local authorities and relevant departments to promote solutions.