A Brief Analysis of Imports and Experts of Jilin Province in January 2015
According to the customs statistics, the imports and exports of Jilin Province totaled RMB￥ 12.93 billion in January, 2015, which can be converted into US$ 2.086 billion, marking a year-on-year decrease of 17.1%. The exports totaled RMB￥ 2.65 billion, which can be converted into US$ 432 million, marking a year-on-year decrease of 23.2%; the imports totaled RMB￥ 10.28 billion, which can be converted into US$ 1.654 billion, marking a year-on-year decrease of 15.3%.
I. Main features of imports and exports of our province in January 2015
(I) Affected by the general decline of imports and exports of major enterprises, Jilin Province’s foreign trade showed a trend of sharp decrease. In January, the imports and exports were down by 17.1%, mainly due to the sharp decrease of imports and exports of major enterprises. The imports and exports of the 16 enterprises, the imports and exports of each of which exceeded US$ 100 million last year, witnessed a year-on-year decline of their imports and exports by 18.9%. Only three enterprises realized increase of imports and exports. Four enterprises saw zero growth of their imports and exports, such as the Jilin Province Bolaide Industrial & Trade Company, the Sinosteel Group Jilin Electromechanical Equipment Co., Ltd., etc. The benchmark of imports and exports during the same period last year were rather high (US$ 2.52 billion of imports and exports in January 2014, which was the highest monthly figure in the entire year), so it marked a rather sharp year-on-year decline of imports and exports in Jilin Province. In January, our province’s foreign trade ranked 21rd among the provinces of China, with exports ranking 26th and imports ranking 12th.
(II) The mainstay merchandise exports were polarized. The export growth of petrochemical, metallurgical, vehicles and auto parts was quite good. In January, the exports of main commodities under eight categories totaled US$ 380 million, marking a drop 20.7%, which was lower than the provincial average. The total exports accounted for 93.2% of the total exports values of our province. Exports of commodities under four categories declined, with the drops of railway passenger vehicles and parts, textile products, agricultural products, and wood products and furniture decreasing by 81.1%, 32.6%, 27.2% and 23.6% respectively. Exports of motor vehicles and parts, petrochemical products, metallurgical and mineral products, and pharmaceutical products achieved better growth, but they could not make up for the shortfall caused by the declines of the other products. In January, Jilin Province’s exports of electromechanical products were US$ 130 million, marking a decrease of 43.6% year on year, and its exports of high-tech products were US$ 48.7 million, marking a decrease 21.8% year on year.
(III) There were decreases of broad-heading merchandise imports, with the only growth in metallurgical and mineral products. The total imports of four broad-heading merchandise of growth of exports of automobiles and auto parts, metallurgical and mineral products, agricultural products and petrochemical products were US$ 1.34 billion, marking a year-on-year decrease of 17%, which was higher than the average decrease of our province. The total imports accounted for 82.8% of the total value of our province. In January, the imports decreased of agricultural products, automobiles and auto parts, and petrochemical products were 37%, 19.2% and 12.1% respectively, and the imports of metallurgical and mineral products increased by 14.9%. In January, the imports of Jilin Province’ mechanical and electrical products were US$ 1.35 billion, marking a year-on-year decrease of 19.2%; its imports of hi-tech products were US$ 190 million, marking a year-on-year increase of 11.8%.
(IV) Some of the major enterprises experienced rather sharp declines, which made it impossible to change the declining tendency of the imports and exports of our province. In January, of the 90 key exporting enterprises, 38 showed a trend of decline in their exports, mainly represented by three enterprises: Changchun Railway Passenger Vehicle Co., Ltd., Sinosteel Jilin Electromechanical Equipment Co., Ltd. and Jilin Grain Group Import and Export Co., Ltd. The net decrease of exports of each of these three enterprises was more than US$ 10 million in January, and their decreases totaled US$ 110 million. Three companies embraced big increases in their exports, Tonggang Group, Jilin City Jianlong Steel & Iron Co., Ltd. and FAW Import and Export Company. Their net increase of exports totaled US$ 50.58 million in January.
In January, of the 78 key importing enterprises, 49 experienced growth, but their incremental imports could not nearly make up for the shortfall caused by the decreased imports of other key enterprises. In January, some of the key enterprises with sharp declines of imports were FAW Import and Export Company, Jilin Province Bolaide Industrial and Trade ltd, Jilin Grain Group Import and Export Co., Ltd. and Continental Automotive Electronics (Changchun) Co., Ltd. The net decrease of imports of the four enterprises totaled US$ 400 million. The enterprises with rather big increase in imports were FAW-VW Co., Ltd., Changchun Railway Passenger Vehicles Co., Ltd., Ji’en nickel Industrial Co., Ltd. and Tonggang Group, and their net increase of imports totaled US$ 85.1 million.
(V) Jilin Province achieved growth in imports from and exports to both the traditional markets and the emerging markets, with significant growth with EU. In January, Jilin Province’s imports from and export to American markets were US$ 138.9 million, marking a year-on-year drop of 3.6%. The exports were US$ 59.33 million, marking a year-on-year drop of 9.4%; the imports were US$ 79.57 million, marking a year-on-year growth of 1.2%. The imports from and exports to the U.S.A., our major trade country, were US$ 55.82 million, marking a year-on-year drop of 40.7%; the exports were US$ 39.56 million, marking a year-on-year drop of 8.4%; the imports were US$ 16.25 million, marking a year-on-year drop of 68%. The imports from and export to Brazil were US$ 6.01 million, marking a year-on-year drop of 74.6%, including exports of US$ 5.13 million, marking a year-on-year growth of 94.4%, and imports of US$ 880000, marking a year-on-year drop of 95.8%.
The imports from and exports to Europe (excluding Russia and the CIS) were US$ 1354.17 million, marking a year-on-year drop of 16.1%, including exports of US$ 73.58 million, marking a year-on-year drop of 5.3%, and imports of US$ 1280.59 million, marking a year-on-year drop of 16.7%. Our province’s imports from and exports to Germany were US$ 859.9 million, marking a year-on-year drop of 16%, including exports of US$ 27.15 million, marking a year-on-year growth of 1.7%, and imports of US$ 832.75 million, marking a year-on-year drop of 16.4%.
The imports from and exports to Northeast Asian markets were US$ 200.91 million, marking a year-on-year drop of 36.5%, including exports of US$ 77.7 million, marking a year-on-year drop of 30.1%, and imports of US$ 123.21 million, marking a year-on-year drop of 39.9%. The imports from and exports to Japan, our major trade country, were US$ 139.35 million, marking a year-on-year drop of 41.13%, including exports of US$ 39.77 million, marking a year-on-year drop of 38.2%, and imports of US$ 99.58 million, marking a year-on-year drop of 42.2%. The imports from and exports to ROK were US$ 58.43 million, marking a year-on-year drop of 26.5%, including exports of US$ 37.76 million, marking a year-on-year drop of 19.3%, and imports of US$ 20.67 million, marking a year-on-year drop of 36.7%.
The imports from and export to Asia (excluding Northeast Asia, Southeast Asia and Central Asia) and Africa were US$ 144.2 million, marking a year-on-year growth of 35%, including exports of US$ 107.84 million, marking a year-on-year growth of 42.9%, and imports of US$ 36.36 million, marking a year-on-year growth of 15.9%. The imports from and exports to South Africa, our major trade country, were US$ 17.45 million, marking a year-on-year growth of 6.4%, including exports of US$ 6.69 million, marking a year-on-year growth of 8.5%, and imports of US$ 10.76 million, marking a year-on-year growth of 5.2%. The imports from and exports to India were US$ 37.39 million, marking a year-on-year growth of 191.9%, including exports of US$ 35.6 million, marking a year-on-year growth of 213.3%, and imports of US$ 1.8 million, marking a year-on-year growth of 23.7%.
The imports from and exports to Southeast Asia, Taiwan, Hong Kong, Macao and Oceania were US$ 134.66 million, marking a year-on-year drop of 39.8%, including exports of US$ 79.13 million, marking a year-on-year drop of 53.2%, and imports of US$ 55.53 million, marking a year-on-year growth of 1.4%. The imports from and exports to Malaysia, our major trade country (region), were US$ 11.51 million, marking a year-on-year drop of 72.7%, including exports of US$ 5.28 million, marking a year-on-year drop of 82.7%, and imports of US$ 6.22 million, marking a year-on-year drop of 46.7%. The imports from and exports to Hong Kong were US$ 8.53 million, marking a year-on-year drop of 41.4%, including exports of US$ 8.38 million, marking a year-on-year drop of 41.3%, and imports of US$ 150000, marking a year-on-year drop of 43.1%. The imports from and exports to Australia were US$ 27.74 million, marking a year-on-year drop of 61.9%, including exports of US$ 4.28 million, marking a year-on-year drop of 92.2%, and imports of US$ 23.46 million, marking a year-on-year growth of 33.1%.
The imports from and export to Russia and its surrounding markets were US$ 56.95 million, marking a year-on-year drop of 2.5%, including exports of US$ 13.09 million, marking a year-on-year drop of 67.6%, and imports of US$ 43.85 million, marking a year-on-year growth of 144.4%. The imports from and exports to Russian, our major trade country, were US$ 50.42 million, marking a year-on-year drop of 10.3%, including exports of US$ 11.81 million, marking a year-on-year drop of 69.4%, and imports of US$ 38.61 million, marking a year-on-year growth of 119%.
（VI） The processing trade grew well, but the imports and exports of state-owned-enterprises were down by a large margin. In January, our province’s imports and exports in general trade were US$ 1.85 billion, marking a year-on-year drop of 16.5%, including exports of US$ 310 million, marking a year-on-year drop of 8.1%, and imports of US$ 1.54 billion, marking a year-on-year drop of 18.1%.
The imports and exports of the processing trade were US$ 153.66 million, marking a year-on-year drop of 23.2%, including exports of US$ 89.58 million, marking a year-on-year drop of 44.7%, and imports of US$ 64.08 million, marking a year-on-year growth of 68.5%.
In January, the imports and exports of foreign-funded enterprises in our province were US$ 1122.1 million, marking a year-on-year growth of 0.6%. The imports and exports of state-owned enterprises were US$ 666.48 million, marking a year-on-year drop of 37.5%. The imports and exports of private enterprises were US$ 232.87 million, marking a year-on-year drop of 14.8%.
II. Several concerns about our province’s foreign trade
(I) Jilin Province’s foreign trade is lackluster. In January, our province failed to maintain the steady growth momentum of last year, and its foreign trade declined by 15.3% year-on-year. The imports of FAW Group were US$ 1.2 billion in January, marking a year-on-year net decrease of US$ 320 million. According to the surveys, it is projected that the imports of FAW Group will go down in 2015, which will affect the foreign trade of the province quite a lot. In addition, the dropping prices of bulk commodities will lower our province’s imports. Of the bulk commodities, iron sand dropped by 45.1%, crude oil by 41.4%, coal by 18.4% and refined oil product by 34.6%.
(II) The foreign trade situation before us remains severe. There are multiple adverse factors to our foreign trade development in 2015. First, in terms of the external situation, the export leading index released by the General Administration of Customs has been declining continuously. In January, China’s export leading index was 38.6, down by 1.5 over last December. It had been declining for four consecutive months, indicating that our country’s exports will still be under pressure I the 1st and the 2nd quarters. It shows the lackluster performance of the demands of international markets. Second, from the mid-term and the long-term perspectives, the costs of labor, land, resources, environmental protection, etc. in our country will continue to rise, and the advantages of foreign trade enterprises will further shrink. Third, in view of risks and uncertainties of international trade, the rise of protectionism around the world compounded by increasing competitions in domestic markets and other factors will exert some negative impacts upon the steady growth of foreign trade of our province. Fourth, quite a few manufacturing enterprises are relocating to Southeast Asia and other regions, which will take away some orders.
