The data released by the General Administration of Customs in 8 days showed that in January, the import and export value of China's goods trade was 2 trillion and 510 billion yuan, up 16.2% over the same period of last year. Among them, exports were 1 trillion and 320 billion yuan, up 6%, imports 1 trillion and 190 billion yuan, an increase of 30.2%, trade surplus of 135 billion 800 million yuan, and narrowing 59.7%.
Experts say strong domestic demand promotes a substantial increase in imports in January. Exports are expected to continue to maintain a good growth trend.
Jincheng Oriental Research and Development Department Deputy General Manager Wang Qing said that the fundamentals of the global economy, export growth remained strong.
Lian Ping, chief economist of Bank of Communications (HK 03328), said that China's exports to the US, Europe and ASEAN continued to grow steadily in January, and the growth rate of exports to Japan has declined. Compared to general trade, processing trade contributed more to the growth of trade exports in January. He said that the January export guide index rose to 41.6%, indicating that future exports are expected to continue to maintain a better situation.
The macro said that in 2018, in the domestic and foreign global economic momentum continued support of agglomeration, trade boom will continue. Export growth is expected to reach 8% in 2018, and this expectation is likely to rise.
Lian Ping said that in January the sharp increase in imports, domestic demand is the main reason. From the data, domestic demand is exuberant, and the import demand for major commodities has increased significantly.
“ in addition to domestic demand exuberant, there are four other factors to accelerate the increase of import growth. ” Lian Ping said, one is the base factor, in January last year imported low base. Two is the holiday factor, compared to the Spring Festival in January last year, this year, the Spring Festival in February, the holiday effect pushed up the import growth. The three is the exchange rate factor. In January, the appreciation of the RMB to the dollar was more than 3%, to a certain extent, it was beneficial to the increase of import growth. Four is the policy factor, narrowing the trade surplus in January is clearly reflected in the data.
