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National Bureau of Statistics: Scale of foreign trade imports and exports is expected to remain generally stable in the next stage
2023-8-16
National Bureau of Statistics spokesman Fu Linghui said that in July, China’s total imports and exports fell by 8.3% YoY, of which exports fell by 9.2%. There are two main factors causing the decline. First, the global manufacturing industry is in a downturn, and the impact of a contraction in external demand continues. Second, the base in the same period last year was relatively high, and the year-on-year growth rate has dropped. In April last year, due to the impact of the epidemic in some areas, imports and exports dropped sharply. From May to July last year, with the concentrated release of backlog orders, the growth rate of imports and exports continued to accelerate. Among them, the imports and exports in July last year increased by 16.3%, of which the export increased by 24.1%, both of which were the highest monthly growth rate of last year. The increase in the base of the same period last year affected the value of the import and export speed in July this year. Although there will be many difficulties in the next stage, relying on a complete industrial system, sufficient supply capacity, and strong foreign trade characteristics, the scale of foreign trade imports and exports is expected to remain generally stable under the influence of various foreign trade stabilization policies.
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