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The total value of China's import and export trade in the first quarter of 2019 TOP20

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The total value of China's import and export trade in the first quarter of 2019 TOP20

[Abstract]:
Recently, Sino-US trade friction has escalated again.On May 10, the US imposed a tariff of 200 billion U.S. dollars on Chinese exports to the United States from 10% to 25%.After the consultation faile

Recently, Sino-US trade friction has escalated again.On May 10, the US imposed a tariff of 200 billion U.S. dollars on Chinese exports to the United States from 10% to 25%.After the consultation failed, China officially imposed a tariff rate on some imported goods originating in the United States.

According to the State Council Tariff Commission, according to the "People's Republic of China Foreign Trade Law", "People's Republic of China Import and Export Tariff Regulations" and other laws and regulations and the basic principles of international law, approved by the Party Central Committee, the State Council, the State Council Tariff Commission decided, since 2019 6 From 0:00 on the 1st of the month, increase the tariff rate on the part of the US$60 billion list of US goods that have been imposed with tariffs, and impose tariffs of 25%, 20% or 10% respectively. For tariff items that have previously been subject to a 5% tariff, 5% tariffs will continue to be imposed.

According to customs data, in 2018, China’s trade surplus with the United States increased by 17.2% year-on-year to reach $323.32 billion. In the first quarter of 2019, the total import and export volume of Sino-US trade was 815.864 billion yuan, of which exports were 62.242 billion yuan, a year-on-year decrease of 3.7%, and imports were 193.434 billion yuan, a year-on-year decrease of 28.3%.

From the perspective of import and export trade countries: the United States remains China’s largest trading nation。According to customs data, the top ten countries (regions) of China's merchandise trade import and export value in the first quarter of 2019 are: the United States, Japan, South Korea, Hong Kong, China, Taiwan, Germany, Australia, Vietnam, Malaysia, and Brazil.Among them, the United States ranked first. In the first quarter of 2019, China’s total import and export trade to the United States was 815.864 billion yuan, a cumulative decline of 11%, accounting for 11.65% of China’s total import and export trade in the first quarter.