According to statistics presented by General Administration of Customs of China mainland in 7th July, 2014, Chinese exports in June grew by 7.2% and the imports increased by 5.5% compared with the same month last year. On the base of that, China had a trade surplus of 31.6 trillion USD. However, above three data all lower than the market forecast. In the first half year of 2014, total import and export value declined by 0.9% than those of 2013 when calculated in RMB. Nevertheless, the general import and export value from January to June reached 2,020 trillion USD, rose by 1.2% over the same period. This increase included 106,186.3 trillion USD exports that grew by 0.9% and 95,899.8 trillion USD imports that grew by 1.5%. Therefore, the favorable balance of trade reduced by 4.4% to 10286 trillion USD.
Zheng Yuesheng is the press spokesman of General Administration of Customs and director of Comprehensive Statistics Department. He stated that, in spite of the promising economic forecast, it is still very difficult to realize 7.5% growth goal throughout the year under complex situation of international economy and trade.
In the first season, ratio of seven labor intensive commodities, including textile, in American market decreased by 0.6% and reached 44.4%, while the ratio in European Union and Japan also decreased by 0.9% and 2.4% respectively, and each reached 41.2% and 58.2%. At the same time, textile from Vietnam, Mexico, India, Bengal, Pakistan, etc. accounts for increasing shares of the European and American market. Traditional manufacturing industries, especially the labor intensive merchandises, are accelerating transfer to Southeast Asia and its surrounding countries.
What’s more, some developed countries are decreasing its investment abroad to prosper economy and expand employment. They are endeavoring to promote the backflow of manufacturing industry. The competitiveness of China export products is being weakened due to continually growth of cost. Therefore, advantages of the traditional industries are being whittled constantly. The trade friction aggravates in this process, which also limits further expansion of export space.
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