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Unexpectedly, China Fastener Import And Export In 2018 Unexpectedly...
- Jan 25, 2019 -

According to customs statistics, the total value of China's foreign trade totaled 30.51 trillion yuan in 2018, an increase of 9.7 percent over 2017. The total value of China's foreign trade hit a new high!Among them, exports totaled 16.42 trillion yuan, up 7.1%.Imports totaled 14.09 trillion yuan, up 12.9 percent.The trade surplus narrowed 18.3 percent to 2.33 trillion yuan.

Specific features are as follows:

First, the annual value of imports and exports reached a new high.

In 2005, the total value of China's foreign trade exceeded 10 trillion yuan for the first time.In 2010, it exceeded 20 trillion yuan.In 2018, it hit a new high of more than 30 trillion yuan, 2.7 trillion yuan more than the all-time high set in 2017.

Second, China's imports and exports to its major trading partners have increased in an all-round way, which is in good shape with those of countries along the "One Belt And One Road" belt and road.

In 2018, China's imports and exports to the top three trading partners -- the European Union, the United States and asean -- grew by 7.9 percent, 5.7 percent and 11.2 percent, respectively, accounting for 41.2 percent of China's total imports and exports.The potential of trade cooperation between China and countries along the "One Belt And One Road" is being continuously released, becoming a new driving force for the development of China's foreign trade.Imports and exports to Russia, Saudi Arabia and Greece increased 24 percent, 23.2 percent and 33 percent, respectively.

Third, private enterprises import and export growth, the proportion of increase.

In 2018, China's private enterprises will import and export 12.1 trillion yuan, up 12.9 percent and accounting for 39.7 percent of the country's total import and export value.Private enterprises contribute more than 50% to the growth of foreign trade import and export, becoming a highlight of foreign trade development in 2018.

Fourth, the import and export growth rate in the central and western regions and northeast China is higher than the overall national growth rate, and regional development is becoming more coordinated.

In 2018, the growth rate of foreign trade in 12 western provinces and cities was 16.1%, exceeding the national growth rate by 6.4 percentage points.The growth rate of foreign trade in the six central provinces was 11.4%, 1.7 percentage points higher than the national growth rate.The growth rate of foreign trade in the three northeastern provinces was 14.8%, exceeding the national growth rate by 5.1 percentage points.Foreign trade in the 10 provinces and cities in the east grew by 8.8 percent.

Fifth, the export proportion of mechanical and electrical products increased and the structure of export commodities continued to be optimized.