Ministry of Commerce, General Administration of Customs of the composition of tr
Why 70 months continuous suspension of the trade surplus?
Core Tip: Ministry of Commerce spokesman, said in March foreign trade deficit was mainly due to the steady rise of China's economic situation to further consolidate, expand domestic consumption and continuing upgrades to drive rapid growth in imports.
General Administration of Customs of the people, resulting in a deficit in March because of rising costs, external market factors that lead to some deterioration and the New Year shrinking labor-intensive exports, as well as the rapid rise of imports, rising values increase in volume and many other factors.
10 Administration of Customs released statistics show that in March the month deficit of 7.24 billion U.S. dollars occurs, stop the country from May 2004 began a continuous 70 months the trade surplus situation.
I Europe and the United States trade surplus narrowed
Customs statistics show that in March there are three obvious characteristics of the deficit form:
One of the Europe and the United States trade surplus has narrowed, on Taiwan, Japan, Korea and ASEAN and other neighboring countries and regions significantly enlarge the deficit. Among them, China's trade surplus with the United States and the EU were 98.7 billion and 6.96 billion U.S. dollars, respectively, compared with a net decrease of 360 million a year earlier and 10.5 million, reductions were 3.5% and 13.1%.
Second, under the general trade reversal from the surplus to a huge deficit, processing trade surplus slightly increased.
Third, a sharp rise in the deficit of state-owned enterprises, foreign-invested enterprises and private enterprises trade surplus has shrunk. Among them, the state-owned enterprises under the name of the trade deficit of 16.12 billion U.S. dollars, compared with a net increase over the same period last year, 9.46 billion U.S. dollars, an increase of 1.4 times.
Customs Statistics and Analysis Division Director of SIP Wong said: "Since the 90s of last century, foreign-invested enterprises have gradually become the main source of trade surplus is also the main beneficiaries of trade surplus. In the first quarter, the trade surplus sharply Qi Cheng circumstances, foreign-invested enterprises are still under processing trade a trade surplus of 51.76 billion U.S. dollars, representing China's processing trade in total trade surplus of 82.3%. "
Is the main cause of increase in volume of imported goods rising values
Huang Guohua analysis: "In accordance with the law over the years, the Spring Festival holiday after a month or so labor-intensive production and exports are at a low ebb. Coupled with the recent double-up the price of raw materials and labor, which causes lack of export power; as the international trade environment, income tight, Europe and the United States economy is still low ebbs, consumer confidence is still insufficient, the recent labor-intensive exports is limited. "
Customs data show that in March, China exported 5.96 billion U.S. dollars apparel, down 19.8%; footwear 1.95 billion, down 6.5%; bags 820 million U.S. dollars, down 16.6%; console 480 million U.S. dollars, down 43%. Only 4 kinds of goods than the same period last year net decrease of 2.13 billion total, equivalent to 29.4% of current trade deficit.
By comparison, imports, as domestic investment demand, consumption structure, speed up the upgrading, in March both quantity and price of raw materials soared, luxury cars and other imports soared. China's crude oil, iron ore, copper and oil products imports increased 15.3% were driving, driving the number of which 3.1 percentage points, 12.2 percent price boost. Automotive and other large fast-growing imports of consumer goods, a quarter of imported cars 6.83 billion U.S. dollars, up 159.1 percent; which imported 3.22 billion U.S. dollars in March, up 240.8 percent.
March of the deficit is not a recession
SIP Wong said: "The trade deficit in March fast growth in exports based on the emerging, not the decline of exports. With the Spring Festival, the disappearance of short-term factors, causing the trade surplus of processing trade, foreign investment and long-term factors will play a leading role, is expected to restore and maintain normal trade surplus. "
He said the smaller deficit in March, the deficit-scale import and export value was only 3.1%, much lower than 10% of our trade imbalance, "warning level." Deficit is mainly due to the formation of import growth is too fast, "this is my period in the international financial crisis as a responsible big country the results of efforts to expand imports, is conducive to global economic recovery."
Ministry of Commerce spokesman Yao Jian said: "China has never deliberately pursue trade surplus, while in the stable and actively expand the export import, promote foreign trade balance, coordinated and sustainable development." Yao Jian also stressed that the current situation of China's trade balance continuous improvement to maintain the basic stability of RMB exchange rate has created conditions. Yao Jian said that in the RMB exchange rate remained basically stable situation, China's trade surplus continued to decline in March deficit, which shows once again that under the conditions of economic globalization, affect the trade balance is not the decisive factor in the exchange rate, but the market supply and demand and other factors. We hope that as soon as possible the lifting of export restrictions, to create conditions to promote the balanced development of bilateral trade.
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