Fujian Province-USA Trade Up Largely in Jan-July 2017
[2017-09-20]
According to China Customs statistics, in January-July 2017, Fujian Province trade with the USA totaled RMB 111.64 billion yuan, up 19.1% year-on-year (YOY): therein, export-to-USA 82.33 billion yuan, up 12.6%; import-from-USA 29.31 billion yuan, up 42.4%; trade surplus 53.02 billion yuan, up 0.1%.
For July alone, Fujian’s USA trade reached 16 billion yuan, up 11.1% YOY and down 6.1% from June: export value 13.03 billion yuan, up 9.5% YOY and down 3.2% from June; import value 2.97 billion yuan, up 18.7% YOY and down 16.9% from June.
Export-to-USA Products: In the first 7 months, exported electro-mechanical products totaled 34.4 billion yuan, up 19.7% YOY, accounting for 41.8% of all exports. Therein, automatic data processing equipment reached 2.67 billion yuan, up 5.3 times; household appliances reached 3.18 billion yuan, up 19.8%; auto parts reached 1.35 billion yuan, down 13.3%. Over the same period, exported traditional labor-intensive products totaled 34.12 billion yuan, up 5.9%. Therein, footwear worth 14.59 billion yuan, up 1%; textile garments worth 6.99 billion yuan, up 1.3%; furniture worth 5.95 billion yuan, up 24.3%. Additionally, exported high-tech products totaled 9.37 billion yuan, up 59.9%.
Import-from-USA Products: In the first 7 months, imported electro-mechanical products totaled 12.06 billion yuan, up 38.2%, accounting for 41.1% of all imports. Therein, mechanical products were worth 4.52 billion yuan, up 0.5%; aircrafts worth 4.57 billion yuan, up 2.6 times.
Considerations:
1. Recently, the USA is chaotic in domestic and foreign affairs, geopolitical relations out of balance, thus triggering global economic concerns.
2. RMB appreciation against US dollar is weakening China's export competitiveness.
3. With the USA persisting in trade protection, Sino-US trade frictions are intensified.
For July alone, Fujian’s USA trade reached 16 billion yuan, up 11.1% YOY and down 6.1% from June: export value 13.03 billion yuan, up 9.5% YOY and down 3.2% from June; import value 2.97 billion yuan, up 18.7% YOY and down 16.9% from June.
Export-to-USA Products: In the first 7 months, exported electro-mechanical products totaled 34.4 billion yuan, up 19.7% YOY, accounting for 41.8% of all exports. Therein, automatic data processing equipment reached 2.67 billion yuan, up 5.3 times; household appliances reached 3.18 billion yuan, up 19.8%; auto parts reached 1.35 billion yuan, down 13.3%. Over the same period, exported traditional labor-intensive products totaled 34.12 billion yuan, up 5.9%. Therein, footwear worth 14.59 billion yuan, up 1%; textile garments worth 6.99 billion yuan, up 1.3%; furniture worth 5.95 billion yuan, up 24.3%. Additionally, exported high-tech products totaled 9.37 billion yuan, up 59.9%.
Import-from-USA Products: In the first 7 months, imported electro-mechanical products totaled 12.06 billion yuan, up 38.2%, accounting for 41.1% of all imports. Therein, mechanical products were worth 4.52 billion yuan, up 0.5%; aircrafts worth 4.57 billion yuan, up 2.6 times.
Considerations:
1. Recently, the USA is chaotic in domestic and foreign affairs, geopolitical relations out of balance, thus triggering global economic concerns.
2. RMB appreciation against US dollar is weakening China's export competitiveness.
3. With the USA persisting in trade protection, Sino-US trade frictions are intensified.
Source: China Customs
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