China’s Foreign Trade Reaches a Year-to-Date High in July as Exports Rise 10.4%

Foreign trade is picking up! Exports surged 10.4% in July!The latest data released by the customs can help foreign traders regain some confidence.Following the positive growth of foreign trade imports and exports in June, my country's foreign trade imports and exports continued to achieve positive growth in July. Among them, the export growth rate continued the previous rapid growth trend and achieved double-digit growth! In terms of monthly performance, as of July, my country's export business has achieved positive growth for four consecutive months (since April) this year.In July, my country's foreign trade import and export volume was 2.93 trillion yuan, an increase of 6.5%. Among them, exports were 1.69 trillion yuan, an increase of 10.4% (in US dollars, China's exports in July increased by 7.2%).In terms of market, in the first 7 months,my country’s exports to ASEAN were 1.4 trillion yuan, an increase of 5.6%;Exports to the EU were 1.47 trillion yuan, an increase of 4%;Exports to the United States were 1.56 trillion yuan, down 4.1%;Exports to Japan were 557.13 billion yuan, an increase of 0.2%.In terms of products, exports of mechanical and electrical products, textiles and plastic products increased, while exports of clothing declined.In the first seven months, my country exported 5.5 trillion yuan of mechanical and electrical products, an increase of 0.2%, accounting for 58.5% of the total export value. Among them, the export of automatic data processing equipment and its parts was 770.7 billion yuan, an increase of 6%; the export of mobile phones was 419.54 billion yuan, an increase of 6.5%.During the same period, exports of textiles including masks were 634.32 billion yuan, an increase of 35.8%;Clothing was 467.6 billion yuan, down 13.8%;Plastic products were 298.9 billion yuan, an increase of 11.5%;Furniture was 196.82 billion yuan, down 2.6%;Shoes and boots were 128.22 billion yuan, down 26.7%;Toys were 99.5 billion yuan, down 2.4%;Luggage and luggage were 76.6 billion yuan, down 26.7%;Exports of steel products were 32.88 million tons, a decrease of 17.6%;There were 520,000 cars (including chassis), a decrease of 25.9%.It is worth noting that the export of epidemic prevention materials has gradually declined. The contribution of the two major categories of anti-epidemic materials to total exports in July was 2.5 percentage points, a further decrease from 3.4 percentage points in June.Due to the impact of the epidemic this year, many foreign traders, after experiencing the darkest moments of "order shortage" in May and June, finally felt the warmth in July and August, the traditional off-season for foreign trade.