Guangdong Import Consumer Goods Slow in Jan-Apr 2017
[2017-07-26]
According to China Customs statistics, for January-April this year, Guangdong Province import of consumer goods totaled CNY 72.1 billion, up 1.6% year-on-year (YOY).
Characteristics of the import of consumer goods to Guangdong:
(1) April’s value down year-on-year and month-on-month. This year, the import of consumer goods fluctuated significantly, down 10% in January, rebounded in February by substantial 35.1%, up still in March, and down in April to 17.79 billion yuan by 8.5% YOY and 12.5% MOM. (See the chart below.)
Characteristics of the import of consumer goods to Guangdong:
(1) April’s value down year-on-year and month-on-month. This year, the import of consumer goods fluctuated significantly, down 10% in January, rebounded in February by substantial 35.1%, up still in March, and down in April to 17.79 billion yuan by 8.5% YOY and 12.5% MOM. (See the chart below.)
(2) Dominated by ordinary trade mode, decline in Customs special control. In the first four months, ordinary trade imported consumer goods 58.01 billion yuan, up 4.3%, accounting for 80.5% of the total; in the same period, Guangdong imported 7.45 billion yuan worth under Customs special control, down 20.1%, accounting for 10.3%; processing trade imported 5.6 billion yuan, up 12.9%, accounting for 7.8%.
(3) Mainly from EU, ASEAN and the USA, faster from Japan and New Zealand. In the first four months, Guangdong imported 25.57 billion yuan worth from the EU, down 3.5%; imported 10.06 billion yuan worth from ASEAN, up 5.2%; imported 8.43 billion yuan from USA, down 3.9%; the three together accounted for 61.1% of the total. In the same period, the import from Japan reached 6.08 billion yuan and from New Zealand reached 2.2 billion yuan, up 22.4% and 36.2% respectively.
(4) Imported goods were mainly automobiles, fruits and milk powder. The automobile import reached 22.53 billion yuan, down 3.9%, accounting for 31.2%; fruits import reached 7.46 billion yuan, down 3.6%; import of milk powder reached 4.44 billion yuan, up 52.5%. Meanwhile, the import of pharmaceuticals reached 4.35 billion yuan, up 16.9%; import of meat and entrails reached 4.16 billion yuan, down 10.9%.
(3) Mainly from EU, ASEAN and the USA, faster from Japan and New Zealand. In the first four months, Guangdong imported 25.57 billion yuan worth from the EU, down 3.5%; imported 10.06 billion yuan worth from ASEAN, up 5.2%; imported 8.43 billion yuan from USA, down 3.9%; the three together accounted for 61.1% of the total. In the same period, the import from Japan reached 6.08 billion yuan and from New Zealand reached 2.2 billion yuan, up 22.4% and 36.2% respectively.
(4) Imported goods were mainly automobiles, fruits and milk powder. The automobile import reached 22.53 billion yuan, down 3.9%, accounting for 31.2%; fruits import reached 7.46 billion yuan, down 3.6%; import of milk powder reached 4.44 billion yuan, up 52.5%. Meanwhile, the import of pharmaceuticals reached 4.35 billion yuan, up 16.9%; import of meat and entrails reached 4.16 billion yuan, down 10.9%.
Source: ETCN
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