Chongqing-EU Trade Up for Quarter 1, 2017


According to China Customs statistics, for the first quarter of 2017, Chongqing Municipality export-import trade with the EU totaled CNY 19.6 Billion, up 7.5% year-on-year (YOY). Therein, export to EU reached 16.71 billion yuan, up 7.1% YOY; import from EU reached 2.89 billion yuan, up 9.8% YOY. Compared with the fourth quarter of 2016, the total value fell slightly by 6.5%, with export down 5.8% and import down 10.4%.

Characteristics of Chongqing-EU Trade in this first quarter:

(1) Monthly export-import value got bigger month-by-month, import value down more. In January and February, export-import value increased by 1.2% and 7.5% YOY respectively. March export-import value was 7.03 billion yuan, up 14.5% YOY and up 22.7% from February, in which export value was 5.96 billion yuan, up 18.3% YOY, and import value 1.07 billion yuan, down 3.2% YOY. (See the chart below).

(2) Processing trade was the major mode, ordinary trade down more than 20%. In the first quarter, Chongqing-EU processing trade reached 12.44 billion yuan, up 32.7% YOY, accounting for 63.5% of the total value; ordinary trade value was 6.41 billion yuan, down 21.7%, accounting for 32.7%.

(3) Trade with Germany and France got increased while trade with UK, Italy and Spain went down. In the first quarter, Chongqing trade with Germany and France respectively reached 9.12 billion yuan and 1.19 billion yuan, up 27.8% and 5.7% YOY respectively; trade with UK, Italy and Spain respectively 1.38 billion yuan, 860 million yuan and 800 million yuan, down 18.7%, 22.6% and 9.3% YOY respectively.

(4) The export and import by state-owned enterprises and foreign-invested enterprises both increased significantly, while those of private enterprises fell. In the first quarter, Chongqing's state-owned enterprises and foreign-invested enterprises had EU trade valued 1.09 billion yuan and 13.75 billion yuan respectively, increased by 55.7% and 23.4% YOY respectively; private enterprises’ EU trade reached 4.76 billion yuan, down 25.5% YOY, with import-from-EU value 1.16 billion yuan, a big increase of 72.8% YOY.

(5) Laptop export kept growing and car import doubled. In the first quarter, Chongqing exported 3,615,000 laptops to the EU, up 14.8% YOY, worth 10.16 billion yuan, up 33.1% YOY, accounting for 60% of the total export. Over the same period, Chongqing imported EU electromechanical products worth 1.82 billion yuan, down 11.4% YOY. Therein, measurement and testing apparatus worth 220 million yuan, down 14.6%; auto parts worth 170 million yuan, down 14.9%; metal processing machine tools worth 70 million yuan, down 80.5%. Particularly, car imports got eye-catching with 657 cars in total, up 1.6 times YOY, worth 340 million yuan, up 1.8 times YOY.
Source: ETCN
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