China's Imports and Exports Record Double Growth in June General Administration of Customs: Foreign
发布日期：2020-07-16
China's exports grew 4.3% in June from a year earlier, the third consecutive monthly increase since April, according to the latest data released by the General Administration of Customs on Thursday. Imports rose 6.2 per cent, both registering positive growth for the first time this year.
After a volatile first quarter, the year-on-year decline in China's total imports and exports narrowed to 0.2% in the second quarter, compared with 16.7% growth in the first quarter. Drived by the improvement in foreign trade in the second quarter, China's total foreign trade volume in the first half of this year reached 14.24 trillion yuan, down 3.2% year on year, 1.7 percentage points narrower than that in January-May. Exports fell by 3 per cent and imports by 3.3 per cent.
In the first half of this year, trade between China and ASEAN grew by 5.6% year on year, and trade between China and Europe fell by 1.8% year on year. China-US trade volume dropped by 6.6%. In the first half of the year, half of China's top 10 trading partners saw trade growth and half saw trade decline. In the second quarter alone, eight bilateral trade grew.
China's overall performance in the first half of the year was "better than expected," Li Kuiwen, spokesman for the General Administration of Customs, said at a press conference.
The epidemic is still spreading around the world. The world economy is in a severe recession and international trade and investment are shrinking sharply. According to the International Monetary Fund's latest forecast, the world economy will contract by 4.9 per cent this year. The World Bank is forecasting that the global economy will shrink by 5.2% this year, the worst recession since World War II. The WTO also expects global trade in goods to fall by 13-32 per cent, while the UN Conference on Trade and Development predicts a 20 per cent decline.
Li Kuiwen said that China's foreign trade development is facing a significant increase in uncertainties and unstable factors, combined with the impact of trade frictions between China and the United States, the import and export situation in the second half of the year is still complex and grim. However, as a series of stabilizing foreign trade policy measures continue to release the effect, we have confidence in stabilizing the basic price of foreign trade. (article source: chinanews.com)
After a volatile first quarter, the year-on-year decline in China's total imports and exports narrowed to 0.2% in the second quarter, compared with 16.7% growth in the first quarter. Drived by the improvement in foreign trade in the second quarter, China's total foreign trade volume in the first half of this year reached 14.24 trillion yuan, down 3.2% year on year, 1.7 percentage points narrower than that in January-May. Exports fell by 3 per cent and imports by 3.3 per cent.
In the first half of this year, trade between China and ASEAN grew by 5.6% year on year, and trade between China and Europe fell by 1.8% year on year. China-US trade volume dropped by 6.6%. In the first half of the year, half of China's top 10 trading partners saw trade growth and half saw trade decline. In the second quarter alone, eight bilateral trade grew.
China's overall performance in the first half of the year was "better than expected," Li Kuiwen, spokesman for the General Administration of Customs, said at a press conference.
The epidemic is still spreading around the world. The world economy is in a severe recession and international trade and investment are shrinking sharply. According to the International Monetary Fund's latest forecast, the world economy will contract by 4.9 per cent this year. The World Bank is forecasting that the global economy will shrink by 5.2% this year, the worst recession since World War II. The WTO also expects global trade in goods to fall by 13-32 per cent, while the UN Conference on Trade and Development predicts a 20 per cent decline.
Li Kuiwen said that China's foreign trade development is facing a significant increase in uncertainties and unstable factors, combined with the impact of trade frictions between China and the United States, the import and export situation in the second half of the year is still complex and grim. However, as a series of stabilizing foreign trade policy measures continue to release the effect, we have confidence in stabilizing the basic price of foreign trade. (article source: chinanews.com)
