Recent China's foreign trade data

The relevant person in charge of the Statistics and Analysis Department of the General Administration of Customs said that since this year, my country has coordinated epidemic prevention and control and economic and social development, the domestic economy has continued to recover, and foreign trade has maintained a double-digit year-on-year growth. Compared with the same period in 2019, it is the top 10 this year. The monthly import and export growth rate also exceeded 20%, which fully reflects the vitality and resilience of my country's foreign trade development.

In terms of different countries, the high level of export prosperity is mainly due to the sharp rebound in exports to the EU and the maintenance of high growth in exports to the United States and emerging economies. The reporter summarized the export data to major regions in the past two years and found that the two-year average growth rate of export value to major trading partners such as the EU, ASEAN, the United States, Japan, and the BRICS countries in October was 15.8%, 12.5%, and 22.6%, respectively. , 10.9%, and 24.9%, respectively, a change of 6.9, -3.4, -2.9, 1.2, and -9.6 percentage points from September. The increase in export growth in October was mainly due to the sharp increase in exports to the EU and the UK.

However, some foreign trade companies revealed that a large total export volume does not necessarily mean a large number of orders. The decline in PMI's new export order index this month has already indicated that the number of orders received by companies has begun to decline. Therefore, the export growth rate in the fourth quarter is likely to slow down compared with the third quarter.

According to statistics from relevant foreign institutions, the economic surprise index of Europe and the United States in October was -52.8 and -16.1 respectively, indicating that the actual economic situation continued to be worse than people's consensus; the European Economic Research Center (ZEW) October Economic Sentiment Index showed that, The Eurozone and the U.S. recorded 21.0% and 11.9% respectively, showing an overall downward trend, indicating a marginal deterioration in the economic expectations of the Eurozone and the U.S. economy in the next six months. The increase in uncertainties in major developed economies may affect the stability of my country’s foreign trade orders.

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