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Comments: On the basis of continuous negative growth in the last two months of last year, imports and exports continued to decline in January. However, based on the number of one month, it is still impossible to judge the foreign trade situation this year. In particular, we must not ignore the impact of the Spring Festival factor on the data. Excluding the Spring Festival factor, foreign trade exports in January showed an increase year-on-year and month-on-month, which means that the government's policy effect of expanding domestic demand and stabilizing external demand since the fourth quarter of last year began to appear. In addition to raising the export tax rebate rate for some commodities, China has stabilized the exchange rate trend, helped enterprises solve problems such as financing difficulties, and supported export enterprises to accelerate the pace of transformation. Although it is not currently predictable that exports will soon turn into positive growth, with the recent decline in the stocks of enterprises in China's major exporting countries, once the external market stabilizes, there will still be more room for export growth.
Import and export continued to decline in January
The General Administration of Customs announced the import and export of China's foreign trade in January. According to customs statistics, the total value of China's imports and exports in the first month of this year was 141.8 billion US dollars, down 29% over the same period last year. Of this total, exports were US$90.45 billion, down 17.5%; imports were US$51.34 billion, down 43.1%. The trade surplus in January was $39.1 billion, an increase of 102%. Although in terms of total value, import and export continued to decline in January this year, but the effect of the reduction of working days was eliminated due to the Spring Festival factor. The export value in January increased by 6.8% compared with the same period of last year. The import and export value and import value decreased by 8.2% compared with the same period of last year. % and 26.4%; import and export value in January increased by 4.6% and 10.1% respectively compared with December last year, and the import value decreased by 3.8%.