7 provinces announced foreign trade in the first five monthsdata

 

 

As the General Administration of Customs released the import and export data for the first five months of this year, foreign trade data from January to May in various regions were also released one after another.

 

According to incomplete statistics from The Paper, seven provinces including Guangdong, Zhejiang, Shandong, Liaoning, Anhui, Hunan and Hainan have announced their foreign trade data for January to May this year. Guangdong still ranks first in terms of import and export, export and import scale. In terms of growth rate, except for Guangdong, the total import and export value of the other six provinces have achieved positive growth, among which Hainan, Hunan, Zhejiang and Anhui have a faster growth rate than the national level.

 

The total import and export value of 6 provinces achieved positive growth, and the growth rate of 4 provinces was faster than the national average

 

From a national perspective, data from the General Administration of Customs showed that in the first five months of this year, my country's total import and export value was 16.77 trillion yuan, a year-on-year increase of 4.7%. Among them, exports were 9.62 trillion yuan, an increase of 8.1%; imports were 7.15 trillion yuan, an increase of 0.5%.

 

From the perspective of the import and export, export and import scale of the seven provinces, Guangdong still ranks first. According to statistics from the Guangdong Branch of the General Administration of Customs, from January to May this year, Guangdong's foreign trade imports and exports amounted to 3.19 trillion yuan, a slight decrease of 0.7% year-on-year. Among them, exports amounted to 2.13 trillion yuan, an increase of 4.8%; imports amounted to 1.06 trillion yuan, a decrease of 10.2%.

 

The other two provinces whose total import and export value exceeded one trillion yuan were Zhejiang and Shandong. According to Hangzhou Customs, from January to May this year, Zhejiang's total import and export value was 1.98 trillion yuan, an increase of 8.4% year-on-year, of which exports were 1.46 trillion yuan, an increase of 8.8%, and imports were 518.16 billion yuan, an increase of 7.4%. The scale of import and export, export and import ranked third, second and sixth in the country.

 

From the perspective of Guangdong, although imports are generally on a downward trend,The growth in imports of bulk commodities and consumer goods is due to the continued overall improvement in economic performance and strong demand for bulk commodities.。

 

A relevant official from the Guangdong Branch of the General Administration of Customs also stated that the pressure currently faced by Guangdong's foreign trade imports and exports is still relatively large. Driven by favorable factors such as the gradual recovery of market demand, the continued efforts of policies to stabilize foreign trade, and the continuous strengthening of the confidence of business entities, Guangdong's foreign trade will continue to maintain its development resilience, showing an overall stable trend with small monthly fluctuations.

 

 

Emerging markets continue to exert their strength, and automobile exports perform well

 

 

According to the data from the General Administration of Customs, in the first five months of this year, ASEAN continued to be my country's largest trading partner, with a total import and export value of 2.59 trillion yuan, an increase of 9.9%, accounting for 15.4% of my country's total foreign trade. The EU was the second largest trading partner, with a total import and export value of 2.28 trillion yuan, an increase of 3.6%. During the same period, my country's total import and export with countries along the "Belt and Road" was 5.78 trillion yuan, an increase of 13.2%.

 

Many placesImports and exports of countries along the Belt and Road and other RCEP member countries have grown rapidlyFor example, in the first five months, Zhejiang's imports and exports to countries along the Belt and Road were 763.6 billion yuan, up 16.7%, Shandong's were 518.24 billion yuan, up 13.1%, and Hunan's were 116.07 billion yuan, up 13.1%.

 

45.9%, Anhui was 103.79 billion yuan, an increase of 28.7%; in terms of imports and exports to other RCEP member countries, Hunan was 94.68 billion yuan, a year-on-year increase of 23.5%, and Hainan was 33.04 billion yuan, an increase of 27.1%.

 

In addition, from the perspective of export products,Exports in the automobile industry, represented by new energy vehicles, are growing rapidly.

 

From a national perspective, data from the China Association of Automobile Manufacturers showed that from January to May this year, my country exported 1.758 million complete vehicles, a year-on-year increase of 81.5%; 457,000 new energy vehicles were exported, a year-on-year increase of 1.6 times.

 

Automobile exports are also an important source of foreign trade growth for major foreign trade provinces such as Guangdong and Zhejiang. Zhejiang used "increased volume and rising prices" to describe automobile exports in the first five months. Data showed that the province exported 142,000 vehicles worth 20.36 billion yuan from January to May, an increase of 50.6% and 88% respectively. The average price was 143,000 yuan per vehicle, up 24.8%. Among them, 92,000 electric passenger cars were exported, worth 13.83 billion yuan, an increase of 71.8% and 99.4% respectively, accounting for 64.7% of the province's total automobile exports, an increase of 8 percentage points over the same period last year.

 

In the first five months of this year, Guangdong's exports of electric passenger cars increased by 7.8 times.Green and low-carbon products inject new impetus into its foreign trade exports。

 

In addition, new forms of foreign trade are also developing into positive factors for the stable operation of foreign trade. For example,Hunan's bonded logistics grew rapidly in the first five months, with the province's import and export volume through bonded logistics increasing by 142.1%In the first five months of this year, Anhui exported 2.79 billion yuan through market procurement trade, an increase of 121.5%.

 

Foreign trade information

 

 

 

 

The offshore RMB once fell below 7.18

 

On June 14th local time, the U.S. Federal Reserve released the latest minutes of the Federal Open Market Committee's monetary policy meeting, announcing that the target range for the federal funds rate would remain unchanged at 5% to 5.25%.

 

After raising interest rates 10 times in a row, the Fed paused but hinted that it might raise interest rates twice more this year. The Fed announced that it would not raise interest rates, and the US dollar index fluctuated downward, hitting a 20-day low.

 

On June 15, the central parity rate of RMB against the US dollar increased by 77 basis points to 7.1489. On the same day, the offshore RMB once fell below the 7.18 mark.

 

Regarding the future trend of the exchange rate, the industry generally believes that the depreciation trend of the RMB is controllable.

 

China Merchants Macroeconomics pointed out that as the US dollar continues to weaken, the passive appreciation space of the RMB exchange rate will also be opened up, and the possibility of the RMB exchange rate reaching 7.2-7.3 cannot be ruled out.

 

Guotai Junan Securities analyzed that after the domestic OMO and SLF interest rates were lowered, the RMB exchange rate was under slight pressure in the short term, but the bottom support was solid. The exchange rate still has a tendency to depreciate in the short term, but it is relatively controllable.7.3 is an obvious support level.

 

 

Panama Canal hit by drought, international logistics affected

 

On the 13th, CNN reported, citing the Panama Canal Authority as its source, that most parts of Central America, including Panama, have suffered a rare drought in the past few months, with water levels in lakes and rivers dropping sharply and water shortages becoming increasingly serious.

 

The Panama Canal Authority warned that this year's El Niño phenomenon appeared earlier than in previous years, and it is expected that there will still be a lack of rainfall in the coming months, and the drought situation will become more severe.

 

Affected by water shortage, the Panama Canal Authority lowered the maximum draft depth of large ships from 15.24 meters to 14.48 meters a few months ago, and later lowered it to 13.56 meters, and further lowered it to 13.41 meters on June 13. It is generally expected that it will be further lowered to 13.26 meters from the 25th of this month.

 

The Panama Canal has increased restrictions on the draft depth of cargo ships, meaning that some container ships may need to reduce their cargo capacity by 40% in order to pass. As a result, the same weight of cargo will need to be spread over more ships, significantly increasing logistics costs.

 

 

Sri Lanka lifts import restrictions on 286 commodities

 

Sri Lanka recently lifted import restrictions on 286 commodities, and the economy showed signs of recovery.

 

President Wickremesinghe said in a televised address earlier this month that "inflation has fallen from 70% to a more manageable 25.2%."

 

At the same time, Sri Lanka's foreign exchange reserves increased by 26% to US$3.5 billion in May, a 17-month high, thanks to increased remittances from foreign workers and tourism revenue.

 

Sri Lanka's main imports from China are mechanical and electrical products, textiles and raw materials, and base metals and products.

 

 

 

Source: Focus Vision, The Paper and the Internet

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