China July Trade Surplus–The Official Announcement

General Customs Administration reported today. Reuters said:

Exports in July jumped 14.5 percent from a year earlier – the fastest pace in 15 months, the General Administration of Customs said on Friday, doubling from 7.2 percent in June and roundly beating market expectations. Exports were stronger than expected even after pricing in inflated export data in early 2013, when firms falsified invoices to skirt capital curbs.

The official announcement

General Administration of Customs released from January to July this year, import and export situation today. According to customs statistics, in the first seven months, the export value of 14.72 trillion yuan a year on year (below) increased 0.2%. Among them, the export of 7.82 trillion yuan, an increase of 1.1%; import 6.9 trillion yuan, down 0.8%; trade surplus of 924.9 billion yuan, expanding 18%.
Customs statistics show that in July, import and export value of 2.33 trillion yuan, an increase of 6.4%. Among them, the export of 1.31 trillion yuan, up 14.1 percent; imported 1.02 trillion yuan, down 2.1%; trade surplus of 291.9 billion yuan, expanding 1.7 times (below).

In dollar-denominated, the first seven months, the export value of $ 2.4 trillion, an increase of 2%. Among this, exports $ 1.28 trillion, an increase of 3%; imports $ 1.12 trillion, an increase of 1%; trade surplus of $ 150.6 billion, expanding 20.9 percent.
July, import and export value of $ 378.5 billion, an increase of 6.9%. Among this, exports $ 212.9 billion, an increase of 14.5%; imports $ 165.6 billion, down 1.6%; trade surplus of $ 47.3 billion, expanding by 1.7 times.
In the first seven months, China’s foreign trade is mainly characterized by the following features:
A general trade import and export to maintain growth, processing trade declined. 7 months ago, China’s general trade import and export 8.09 trillion yuan, an increase of 5.2%, accounting for 55% of my gross foreign trade, compared with 2.7 percent last year to improve. Which exports 4.06 trillion yuan, an increase of 7.7%, accounting for 51.9% of total exports; imported 4.03 trillion yuan, an increase of 2.8%, accounting for 58.4% of total imports; under the general trade surplus of 30.12 billion yuan, a year earlier trade deficit of 150.44 billion yuan. The same period, China’s processing trade import and export 4.64 trillion yuan, down 2.1%, accounting for 31.5% of my total foreign trade, compared with the same period last year fell 0.8 percent. Which exports 2.93 trillion yuan, down 2 percent, accounting for 37.5% of total exports; imported 1.71 trillion yuan, down 2.3%, accounting for 24.8 percent of total value of imports; processing trade surplus of 1.22 trillion yuan, narrowed 1.6 %.
Second, the EU, the U.S., ASEAN and Japan imports and exports keep growing. 7 months ago, China-EU bilateral trade value of 2.14 trillion yuan, an increase of 10%. Bilateral trade amounted to 1.87 trillion yuan, an increase of 3.9%. 7 months ago, and ASEAN bilateral trade amounted to 1.6 trillion yuan, an increase of 3.5%. Sino-Japanese bilateral trade amounted to 1.1 trillion yuan, an increase of 1.2%. Before seven months, total bilateral trade between the Mainland and Hong Kong was 1.18 trillion yuan, down 19.7 percent.
Third, Guangdong, Jiangsu and other provinces seven total export share decline, the Midwest export active. Before seven months, the total value of 3.46 trillion yuan in Guangdong‘s import and export, down 13.6%, accounting for 23.5% of gross national import and export. The same period, Jiangsu, Shanghai import and export value was 2 trillion, 1.62 trillion, an increase of 3.9%, 5.2%; Beijing (including the central unit is in Beijing) 1.51 trillion yuan, down 2.9%. In addition, import and export value 1.24 trillion yuan in Zhejiang, an increase of 4.5%; Shandong 996.86 billion yuan, an increase of 9.6%; Fujian 610.66 billion yuan, an increase of 0.4%. Total import and export value of the seven provinces accounted for 77.7 percent of the national export value over last year dropped 2.2 percentage points.
From the export side, the first seven months, Guangdong exported 2.05 trillion yuan, down 10.4 percent; Jiangsu 1.2 trillion yuan, an increase of 3.9%; Zhejiang 940.54 billion yuan, an increase of 7.2%; Shanghai 727.56 billion yuan, an increase of 2%; Shandong 493.07 billion yuan, an increase of 9.1%; Fujian 387.22 billion yuan, an increase of 2.2%; Beijing 219.51 billion yuan, down 1.7%. The Midwest region’s exports maintained a rapid growth, Chongqing, Sichuan, Jiangxi, Hunan, Guangxi and export growth was 37.4%, 13.8%, 9.4%, 35.2% and 24.4%.
Fourth, private enterprises import and export growth than other types of businesses. 7 months ago, foreign-invested enterprises and export 6.75 trillion yuan, an increase of 1.2%, accounting for 45.9% of gross trade me. Among them, the export of 3.62 trillion yuan, essentially flat with last year, accounting for 46.3% of total exports; imports of 3.13 trillion yuan, an increase of 2.7%, accounting for 45.4 percent of the total import value. The same period, private enterprises and export 5.02 trillion yuan, an increase of 1.6%, accounting for 34.1% of my total foreign trade. Among them, the export of 3.31 trillion yuan, an increase of 2.6%, accounting for 42.3% of total exports; imported 1.71 trillion yuan, down 0.3%, accounting for 24.8 percent of the total import value.
In addition, state-owned enterprises and export 2.69 trillion yuan, an increase of 0.4%, accounting for 18.3% of my total foreign trade. Among them, the export of 887.3 billion yuan, with the same period last year, accounting for 11.3% of total exports; imports of 1.8 trillion yuan, an increase of 0.5%, accounting for 26.1 percent of the total import value.
Five in exports, the traditional labor-intensive exports growth. Before seven months, China’s export of electromechanical products 4.39 trillion yuan, down 1.4%, accounting for 56% of total exports. Among them, the electrical and electronics exports 1.86 trillion yuan, down 6.1%; machinery and equipment 1.38 trillion yuan, an increase of 2.2%. Year, garment exports 610.28 billion yuan, an increase of 3.8%; textiles 389.06 billion yuan, an increase of 2.6%; footwear 193.91 billion yuan, an increase of 11.4%; furniture 175.06 billion yuan, down 5.7 percent; plastic products 126.45 billion yuan, an increase of 5.8%; Bags 92.48 billion yuan, down 5.5%; toys 41.89 billion yuan, an increase of 12.8%; above seven categories of total exports of labor-intensive products 1.63 trillion yuan, an increase of 3%, accounting for 20.8 percent of total exports.
Six in the imported goods, the main commodity imports increased, the general decline in the average price of imports. Before seven months, China imported 540 million tons of iron ore, an increase of 18.1%, the average import price 699.7 yuan per ton, down 14.5%; crude oil 180 million tons, an increase of 7.2%, the average import price of 4798.5 yuan per ton, down 1%; grain 59.266 million tons, an increase of 28.5%; where soybean 41.682 million tons, an increase of 20.2%, the average import price of 3630.9 yuan per ton, down 3.9%; plastics in primary forms of 14.954 million tons, an increase of 9.3%, the average import price to 12,500 yuan per ton, up 0.6%; steel 8,469,000 tons, an increase of 5.8%, the average import price of 7673.4 yuan per ton, up 2%; unwrought copper and copper 2.864 million tons, an increase of 18.7 percent and imports were price of 45,700 yuan per ton, down 8.2%; unwrought aluminum and aluminum 582,000 tons, an increase of 26.7%, the average import price of 24,400 yuan per ton, down 17.6%.
In addition, imports of coal 180 million tons, reducing by 2.2%, the average import price 483.8 yuan per ton, down 14.9 percent; 17.126 million tons of refined oil, reducing 31.1%, the average import price of 4951.9 yuan per ton, up 0.6%. Mechanical and electrical products import 2.92 trillion yuan, down 2.4%; where 828,000 cars, an increase of 29.8%.
Seven leading export index slightly improved. July, China‘s exports leading index was 42.6, compared with June upgrade 0.4. Among them, according to the network survey data show that same month, China’s export managers index was 43, compared with June upgrade 0.2; new export orders index rose 0.4 to 46.7 compared with June, the export manager confidence index and export companies were consolidated cost index 47.8 and 22, compared with June fell 0.1