Estimated Import and Export Volume 27.5 Trillion Yuan in 2015, Increasing by 3.9%

Recently, the Customs Information Network (www.haiguan.info) issued the "2014 China's economic situation and the import and export trade situation analysis summary report" (hereinafter referred to as the Annual Report).

The Report says, in 2015 the global economic will continue the weak recovery trend, facing structure imbalance and geopolitical risks, at the same time of the domestic economic slowdown, structural adjustment is accelerating. import and export trade may usher vigorous policies and new growth point incubation period. It’s estimated that in 2015 import and export volume will reach 27.5 trillion yuan, an increase of approximately 3.9%; of which, imports 12.2 trillion yuan, an increase of about 1.3%, exports 15.3 trillion yuan, an increase of approximately 6.1%.

China's economic growth slowed in 2014, and China’s economy is gradually into the "new normal" orbit, and showed the following characteristics:

First, the 2014 foreign trade growth fell down, weak demand inhibited import growth, and the export leading indicators fell for three consecutive months, export growth was weak.

Second, the 2014 overall import and export goods maintained growth momentum, cargo and trade movements basically stayed the same.

Third, he regional distribution further optimized: the growth of foreign trade in the eastern areas declined; the growth of foreign trade in the Midwest areas remained rapid, the development potential is great, which may become the new growth point of China's foreign trade.

Fourth, the proportion of general trade continued to increase, the structural adjustment of the foreign trade began to come into effect; but the imports of the general trade shrink slightly, highlighting weak domestic demand.

Fifth, in terms of commodity, the imports and exports of electromechanical products grew, high-tech went down, labor-intensive exports stayed steady, the exports of energy-consuming, highly-polluting and resource product increased fast, commodities imports volume increased but values decreased, imports of agricultural products grew fast.

In addition, the report also analyzes the factors affecting China's foreign trade in 2015 and predicts the import and export trends. The report notes that, among the favorable factors include the following three aspects.

As China's economic growth goes into the "new normal", in 2015 China's foreign trade will continue to maintain single-digit growth. In Exports, although the global economy as a whole is still showing weak recovery trend, but the promotion of “one belt one road” strategy will give support to China's exports, exports are expected to continue to maintain steady growth during the year; in imports, dual pressure still exit, the domestic demand is still weak and international commodity prices fall down, but with the Midwest railway, water conservancy project and other infrastructure projects to start, in 2015 imports speed will be picked up. It’s estimated that in 2015 import and export volume will reach 27.5 trillion yuan, an increase of approximately 3.9%; of which, imports 12.2 trillion yuan, an increase of about 1.3%, exports 15.3 trillion yuan, an increase of approximately 6.1%. (www.chinainout.com)