China's International Trade Data For The First Quarter Of 2017

date of issue:2019-06-21     Source: Agrow
According to customs statistics, in the first quarter of 2017, China's trade data international import and export totaled 6.2 trillion yuan, a year-on-year increase of 21.8%; of which exports were 3.33 trillion yuan, up 14.8%; imports were 2.87 trillion yuan, up 31%. In the first quarter, foreign trade import and export achieved rapid growth, and last year continued to maintain a good momentum.

From the perspective of the international market, China's exports to the traditional markets such as the United States, the European Union, and Japan increased by 16.8%, 14.0%, and 11.0%, respectively; for countries along the "Belt and Road" countries such as Russia, Indonesia, Singapore, and Malaysia, the import and export grew rapidly, and the increased speed of the first quarter reached 37.0%, 32.8%, 31.6% and 28.5% respectively.

There are four main reasons for the rapid growth of China's trade data international import and export in the first quarter: First, the international market is slowly recovering. The International Monetary Fund (IMF) estimated in January this year that the world economy will grow by 3.4% in 2017, 0.3 percentage higher than last year. Import demand from major economies such as the United States has rebounded. According to WTO statistics, imports from the United States, Japan, South Korea, and Canada increased by 6.2%, 7.6%, 21.7%, and 6.0% in January and February this year. Second, the import prices of bulk commodities have increased. In the first quarter, China's crude oil, iron ore, natural gas, coal, rubber, logs and other 10 categories of commodities (accounting for 25.4% of total imports in the same period) import prices rose 2.5% - 99.8%, driving imports growth of 10.9 percentage points. Third, the base was low last year. In the first quarter of 2016, the import and export volume was 5.1 trillion yuan, the lowest level since the same period in 2011. In addition to the above reasons, there is also a very important factor. In recent years, a series of policy effects of the State Council's support for foreign trade development have gradually emerged, the business environment has continued to improve, and corporate innovation capabilities have increased, and power conversion has accelerated.
Related News
  • World Trade Statistics 2014

    World Trade Statistics 2014

    May 14, 2019Strong exchange rate volatility, including about 15% appreciation of the dollar against other currencies since 2014, further complicates the picture.The collapse of global oil prices in 2014 (down 47%...view
  • Argentina Imports and Exports List

    Argentina Imports and Exports List

    May 14, 2019Argentina's main exports are corn, wheat, soybeans, grains, beef and mutton, seafood, wine, dairy products, automobile, aircraft, mineral resources are oil, natural gas, coal, iron, silver, uranium, l...view
  • A Brief Summary of Spanish Agricultural Products Exported to China in 2016

    A Brief Summary of Spanish Agricultural Products Exported to China in 2016

    March 16, 2020Spain is the country with the fastest growth in export sales to China in 2016, ranking second only to Brazil in the world.view
  • Global Trade Volume Data

    Global Trade Volume Data

    May 14, 2019According to the Ministry of Commerce, the WTO has released the world trade statistics report. From the global trade volume data, the world trade in goods and services nearly doubled from 2005 to 2015...view
  • China's International Trade Data

    China's International Trade Data

    March 16, 2020International trade data by country is used to observe the total scale of a country's foreign trade.view
  • Introduction To International Trade Figures

    Introduction To International Trade Figures

    May 14, 2019The volume of world trade, also known as international trade figures, is an indicator of the scale of world trade in a certain period of time expressed in terms of currency, and is the sum of the expo...view
Online service
+86-18521783769