China Automobile Export Up Largely in QTR 1, 2017


According to China Customs statistics, in the first quarter of this year, China exported totally 187,000 automobiles, up 41.9% year-on-year (YOY); value totaling CNY 17.17 billion, up 29.4% YOY; and average export price at 92,000 yuan per auto, down 8.8% YOY. Therein, this March’s export quantity was 68,000 autos, up 34% YOY; worth 6.33 billion yuan, up 26.1% YOY; and average price at 93,000 yuan per auto, down 6% YOY.

Characteristics of the automobile export in the first quarter:

(1) Monthly export quantity upward YOY for six months. Since October 2016, China's monthly auto export has been rising for six consecutive months. This March, export quantity was 68,000 autos, an increase of 34% YOY and 42.5% from February. (See the chart below).

(2) Ordinary trade dominated, with big increase in processing trade. By ordinary trade, the export quantity was 159,000 autos, up 39.4% YOY, accounting for 85% of the total; by processing trade, the export was 24,000 autos, up 73.1% YOY.

(3) Iran was the largest export market, with more exports to Americas. In the first quarter, China exported 55,000 autos to Iran, up 1.5 times YOY, accounting for 29.6% of the total; exported 21,000 autos to ASEAN, down 2.9% YOY; 14,000 autos to Chile, largely up 79.8% YOY; and 13,000 to USA, a surge of 5.8 times YOY.
Source: ETCN
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