China exports soared by 49% in the first quarter, and these products are selling well!
According to statistics from the General Administration of Customs, in the first quarter, the total value of my country's import and export of goods trade was 8.47 trillion yuan, an increase of 29.2% over the same period last year. Among them, exports were 4.61 trillion yuan, an increase of 38.7%; in US dollars, exports increased by 49% year-on-year.
This is already three consecutive quarters of positive year-on-year growth since the third quarter of last year!
In a single month in March, exports denominated in RMB increased by 20.7% year-on-year, and exports denominated in U.S. dollars increased by 30.6% year-on-year.
Global economic recovery
In March, the manufacturing PMI of the United States and the European Union rose to 59.1% and 62.5%, respectively the second highest and highest since the data were available;
South Korea’s exports increased by 16.6% year-on-year, the fifth consecutive month of growth, the largest increase in the past two and a half years;
The new order index in the domestic manufacturing PMI rebounded from 48.4% in February to 51.2%, returning to above the line of prosperity and decline.
In terms of the export market, China's exports to the EU, the United States, and Japan increased by 48.5% in the first quarter, contributing 44.2% to the overall export growth; exports to ASEAN increased by 27.7% year-on-year.
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Exports to RCEP member countries increased by 27.5%
In the first quarter, China’s exports to RCEP member countries were 1.25 trillion yuan, an increase of 27.5%; in terms of export commodities, exports of mechanical and electrical products increased by 28.7%, accounting for 53% of the total value of exports to RCEP member countries.
China took the lead in completing the RCEP approval in March, and Thailand has also ratified the agreement. The Ministry of Trade and Industry of Singapore also issued an announcement on April 9 that Singapore has completed the RCEP approval.
All RCEP member states have stated that they will ratify the agreement before the end of this year and promote the agreement to enter into force on January 1, 2022.
The export proportion of mechanical and electrical products exceeds 60%
In the first quarter, my country’s exports of mechanical and electrical products were 2.78 trillion yuan, an increase of 43%, accounting for 60.3% of the total export value, an increase of 1.7% over the same period last year. Among them, exports of automatic data processing equipment and its parts, mobile phones, and automobiles increased by 54.5 respectively. %, 38.5%, 98.9%. During the same period, the export of anti-epidemic materials continued to grow, and the export of textiles, including masks, increased by 30.6%.
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Please see the table below for details
my country’s exports soared by 49% in the first quarter, and these products are selling well! my country’s exports soared by 49% in the first quarter, and these products are selling well!
Cross-border e-commerce exports soared by 69.3%
In the first quarter, China's cross-border e-commerce imports and exports were 419.5 billion yuan, an increase of 46.5% year-on-year, of which exports were 280.8 billion yuan, an increase of 69.3%.
In 2020, China's cross-border e-commerce exports are 1.12 trillion yuan, a year-on-year increase of 40.1%, becoming an important force in stabilizing foreign trade
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