According to the General Administration of Customs, in the first five months of this year, China's import and export of goods totaled 11.54 trillion yuan, down 4.9 percent from the same period last year (the same as below), the same drop as in the previous four months. Exports fell by 4.7% to 6.2 trillion yuan. Imports of 5.34 trillion yuan, down 5.2%; The trade surplus was 8.59.81 billion yuan, down 1.2%. In dollar terms, China's imports and exports in the first five months totaled us $1.65 trillion, down 8%. Exports totaled us $884.99 billion, down 7.7%; Imports of US $763.63 billion, down 8.2%; The trade surplus was us $121.36 billion, down 4.5%.

In the first five months, China imported 216 million tons of crude oil, up 5.2%. The average import price was 2567.4 yuan per ton, down 21.2%. The average import price was 503.4 yuan per ton, down 4.7%. Natural gas was 40.12 million tons, up 1.9%, and the average import price was 2642.1 yuan per ton, down 14.7%

The proportion of imports and exports in general trade increased slightly. In the first five months, China's general trade imports and exports totaled 6.91 trillion yuan, down 4.7 percent and accounting for 59.9 percent of China's total foreign trade value, 0.1 percentage point higher than the same period last year. Exports totaled 3.65 trillion yuan, down 4.3%; Imports were 3.26 trillion yuan, down 5.1%. During the same period, the import and export of processing trade was 2.77 trillion yuan, down 8.1 percent. Exports totaled 1.74 trillion yuan, down 9.3%. Imports totaled 1.03 trillion yuan, down 6.1%. In addition, China imported and exported 1.39 trillion yuan in bonded logistics, down 0.1 percent. Of this amount, 464.78 billion yuan was exported, up 3.7%; Imports were 928.91 billion yuan, down 1.9%.

Imports and exports to ASEAN grew, while imports and exports to the EU, the US and Japan declined. In the first five months of this year, ASEAN was China's largest trading partner. China's total trade with ASEAN reached 1.7 trillion yuan, an increase of 4.2%, accounting for 14.7% of China's total foreign trade. China's export to ASEAN reached 936.62 billion yuan, up 2.8%. Imports from ASEAN reached 7.59.86 billion yuan, up 6%; The trade surplus with ASEAN reached 176.76 billion yuan, down 9%. The EU is China's second largest trading partner. Its total trade value with the EU reached 1.61 trillion yuan, down 4.4% and accounting for 13.9% of China's total foreign trade value. Of this, China's exports to the EU reached 968.82 billion yuan, down 1%. Imports from the EU reached 637.32 billion yuan, down 9%; The trade surplus with the EU reached 331.5 billion yuan, up 19.1%. The United States is China's third largest trading partner. The total value of trade between China and the United States was 1.29 trillion yuan, down 9.8 percent and accounting for 11.1 percent of China's total foreign trade. Of this, China's export to the United States reached 964.39 billion yuan, down 11.4 percent. Imports from the United States reached 321.84 billion yuan, down 4.5%; The trade surplus with the US was 642.55 billion yuan, down 14.5%. Japan is China's fourth largest trading partner. The total value of trade between China and Japan was 846.36 billion yuan, down 0.3% and accounting for 7.3% of China's total foreign trade. Among them, the export to Japan is 396.1 billion yuan, up by 1.6%; Imports from Japan reached 450.26 billion yuan, down 1.8%; The trade deficit with Japan was 54.14 billion yuan, down 21.1%.

The import and export of private enterprises increased and their proportion increased. In the first five months, the import and export of private enterprises reached 5.11 trillion yuan, up by 1.8%, accounting for 44.3% of China's total foreign trade value and 2.9 percentage points higher than that of the same period last year. Exports totaled 3.27 trillion yuan, down 0.1%, accounting for 52.7% of the total value of exports. Imports totaled 1.84 trillion yuan, up 5.4% and accounting for 34.5% of the total value of imports. In the same period, the import and export of foreign-invested enterprises was 4.54 trillion yuan, down 7.3%, accounting for 39.4% of China's total foreign trade value. Exports totaled 2.33 trillion yuan, down 9.4%. Imports were 2.21 trillion yuan, down 5%. In addition, the import and export of state-owned enterprises reached 1.85 trillion yuan, down 14.1 percent and accounting for 16 percent of China's total foreign trade. Exports totaled 583.89 billion yuan, down 8.4%; Imports were 1.26 trillion yuan, down 16.5%.

Exports of mechanical and electrical products and clothing declined, while exports of textiles increased. In the first five months, China's exports of mechanical and electrical products totaled 3.64 trillion yuan, down 4 percent and accounting for 58.7 percent of the total value of exports. The export of automatic data processing equipment and its parts reached 508.61 billion yuan, up 1.8%; Mobile phones totaled 275.65 billion yuan, down 5.6%. In the same period, the export of textiles, including masks, was 406.66 billion yuan, up 25.5 percent. Apparel amounted to 267.81 billion yuan, down 20.3%; 187.26 billion yuan for plastic products, up 2.1%; Furniture 122.67 billion yuan, down 14%; 82.11 billion yuan for shoes and boots, down 28.5 percent; 56.74 billion yuan for toys, down 11.8%; Cases and bags totaled 5.05 billion yuan, down 27.6 percent. In addition, steel exports of 2.502 million tons, down 14 percent; 377,000 cars (including chassis), down 16.9%.

Imports of iron ore, crude oil, natural gas, soybeans and other commodities increased, while the average import price of bulk commodities mainly fell. In the first five months, China imported 445 million tons of iron ore, up 5.1%. The average import price was 629 yuan per ton, up 6.7%. Crude oil was 216 million tons, up 5.2%, and the average import price was 2567.4 yuan per ton, down 21.2%. The average import price was 503.4 yuan per ton, down 4.7%. Natural gas was 40.12 million tons, up 1.9%. The average import price was 2642.1 yuan per ton, down 14.7%. Soybeans totaled 33.883 million tons, up 6.8%. The average import price was 2770.2 yuan per ton, down 1.7%. The average import price was 9,039 yuan per ton, down 10.3%; The average import price of refined oil was 3037.2 yuan per ton, down 18.3%. Steel 5.464 million tons, up 12%, the average import price of 7043.6 yuan per ton, down 13.9%; The average import price of unforged copper and copper products was 43,000 yuan per ton, down 6.3%, up 12.4%. In addition, imports of mechanical and electrical products totaled 2.36 trillion yuan, down 0.9 percent; Among them, integrated circuits reached 20.15 billion yuan, up 27.3%, with a value of 879.43 billion yuan, up 14.5%. 278,000 automobiles (including chassis), a decrease of 36.9%, valued at 92.88 billion yuan, a decrease of 31.3%.

In May, China's foreign trade volume was 2.47 trillion yuan, down 4.9 percent year on year. Exports totaled 1.46 trillion yuan, up 1.4%; Imports of 1.01 trillion yuan, down 12.7%; The trade surplus was 442.75 billion yuan, up 60.6%. In US dollar terms, China's foreign trade totaled us $350.7 billion in May, down 9.3%. Exports totaled us $206.81 billion, down 3.3%; Imports of US $143.89 billion, down 16.7%; The trade surplus was us $62.93 billion, up 52.9%.

Source: Sinochem. Net