Total export value in 2020 is still positive

The total import and export volume of China increased from 2015 to 2020, with a total import and export value of 31.6 trillion yuan in 2019, an increase of 3.4 percent over 2018. Among them, the national import amount reached 14.32 trillion yuan, export amount reached 17.23 trillion yuan.

In the first three quarters of 2020, the total value of China's imports and exports was not growing well because of the epidemic, but it was better than expected that China's foreign trade imports and exports increased by 0.7 percent over the same period last year, with the total value of imports and exports 10.40 trillion yuan, down 0.6 percent from the same period last year.

Export growth driven by epidemic prevention

For the first three quarters of 2020, The products with obvious export growth are epidemic prevention materials, "Home economy" goods, etc. Among them, Medical instruments and instruments increased by 48.2% year on year, Textile yarns, fabrics and articles 37.5%, Chinese herbal medicine and Chinese patent medicine 6.2%; Because of the epidemic, people are restricted from travelling, "Home economy" commodity market demand, Among them, Laptop computers, home appliances and other products export growth rate of more than 17% year on year, The export of household appliances increased by 17.3% from the same period last year, ICs grew 14.9% year on year, Plastic products increased by 16.6 per cent; It is mainly due to the absence of major manufacturing capabilities in Europe and North America during the epidemic, The "export substitution" function of domestic related products appears.

New infrastructure to boost import demand

In addition to exports, imports, China's new infrastructure demand to stimulate import growth. Import demand steady to good, but also support the recovery of import values and so on. China's imports of energy and raw materials increased significantly in the first three quarters of 2020. Imports of crude oil, steel and copper increased by 12.7 percent ,72.2 percent and 41.2 percent respectively. During the construction of the "new infrastructure" investment plan, the data center ,5 G development, new energy vehicle charging pile, UHV and other infrastructure construction need a lot of energy and basic materials support after they are put into use.

US exports rebound

From the foreign trade partners, Maintaining growth in imports and exports to major trading partners, ASEAN is our largest trading partner. In the first three quarters, Imports and exports to ASEAN, the European Union, the United States, Japan and South Korea were 3.38 trillion yuan ,3.23 trillion yuan ,2.82 trillion yuan ,1.61 trillion yuan ,1.45 trillion yuan, Growth of 7.7%,2.9%,2%,1.4%,1.1%, Among them, ASEAN is our first trading partner, It accounts for 14.6% of the total foreign trade value of our country. In addition, China's import and export to countries along the "Belt and Road "6.75 trillion yuan, An increase of 1.5 per cent.

The first three quarters of 2020. ASEAN (Association of Southeast Asian Nations) against the United States, the European Union, continue to become China's largest trading partner, the United States fell to become China's third largest trading partner. But in terms of exports, China's export to the United States ranked first, reaching 2176.81 billion yuan, but the growth rate was only 1.80, far lower than ASEAN and the European Union. In terms of growth, both imports and exports, China's import and export growth rate to ASEAN as high as 7.7, ranked first.