A Brief Analysis of Imports and Experts of Jilin Province in April 2015
According to the customs statistics, the imports and exports of Jilin Province totaled RMB￥ 45.23 billion January-April 2015, which can be converted into US$ 7.33 billion, marking a year-on-year decrease of 10.3%. The exports totaled RMB￥ 9.7 billion, which can be converted into US$ 1.58 billion, marking a year-on-year decrease of 5.6%; the imports totaled RMB￥ 35.53 billion, which can be converted into US$ 5.75 billion, marking a year-on-year decrease of 11.5%.
The imports and exports of Jilin Province totaled RMB￥ 11.58 billion in April 2015, which can be converted into US$ 1.896 billion, marking a year-on-year decrease of 19.7%. The exports totaled RMB￥ 2.43 billion, which can be converted into US$ 396 million, marking a year-on-year decrease of 5.0%; the imports totaled RMB￥ 9.15 billion, which can be converted into US$ 1.5 billion, marking a year-on-year decrease of 22.8%.
I. Main features of imports and exports of our province in April 2015 (the following data on specific enterprises, commodities, etc. exclude those with DPRK)
(I) The economic downturn dragged foreign trade in our province, but our imports and exports ranking rose in China. The sluggish demand from abroad and the depression of the automotive industry in our province resulted in decreases of foreign trade of our province by 17.1%, 6.9%, 6.5% and 10.3% in January, February, March and April respectively. Its downturn trend is obvious during the fluctuations in low positions, and the accumulative decrease reached two digits once again, mainly due to the continuous low imports. In the previous four months, our province’s imports and exports were down by 11.5%, with the decrease margin growing bigger by 4.8%. In April alone, the imports decrease was as much as 22.8%. Affected by such factors as the lackluster demand on the international market, labor cost rise, etc., most of the regions in China witnessed slower growth of foreign trade. Our province ranked 20th among the provinces in China in the 1st quarter, up by one position.
(II) The mainstay merchandise exports were down as a whole, and only exports of petrochemical products maintained the growth trend. From January to April, the eight major types of imports and exports totaled US$ 1.41 billion, down by 5% year-on-year, lower than the average increase of our province. Their total exports accounted for 94.5% of the total exports of our province. The exports of five types of products decreased. The exports of pharmaceutical products and railway passenger cars and parts went down quite a lot, marking a decrease of 23.8% and 22% respectively. The exports of agricultural products, woodware products and light industrial and textile products were down by 11.8%, 7.4% and 3.8 respectively. The exports of petrochemical products grew quite well, increasing by 26.6%. The exports of metallurgical & mineral products and automobile & parts increased by 5.4% and 3.5% respectively. From January to April, our province’s exports of mechanical and electrical products were US$ 530 million, down by 13.8% year-on-year, and the exports of hi-tech products were US$ 170 million, marking a year-on-year decrease of 30.8%.
(III) The trend of increase of imports of agricultural products remained unchanged, while the imports of metallurgical & mineral products and automobiles & parts dropped more. The imports of the four major types of merchandise, i.e. automobile & parts, metallurgical, agricultural and petrochemical products, totaled US$ 4.65 billion, marking a year-on-year decline of 13.1%, which was higher than the average decrease of imports of our province. Their total imports accounted for 82.7% of the total imports of our province. The imports of soybeans rose quite a lot in the month, which boosted the imports of agricultural products to continue with the good growth trend, marking a year-on-year increase of 72.2%, rising by 61.5% compared with the previous three months. The imports of petrochemical products were 48.7%, rising by 42% compared with the previous three months. The imports of automobiles & parts and metallurgical & mineral products fell by 16.3% and 18.1% respectively, decreasing by 6.3% and 9.1% respectively compared with the previous three months. In the first four months of the year, the imports of mechanical and electrical products were US$ 4.62 billion in our province, marking a year-on-year decrease of 16.3%; the imports of hi-tech products were US$ 660 million, marking a year-on-year increase of 11.6%.
(IV) Some of the key enterprises experienced quite big decreases, which ushered the imports and exports into a declining tendency in our province. January-April, the top 100 enterprises of imports and exports in our province totaled US$ 6.44 billion, accounting for 90.6% of all the imports and exports of our province. 43 of them experienced falling imports and exports, and the imports and exports decrease of 20 exceeded 20%. Among the key foreign trade enterprises, the FAW Group’s imports and exports were down by 16.1% in the first four months of the year, with the amount of imports and exports being down by US$ 830 million. This is mainly due to the fact that the Audi car imports dropped, some of the auto models were halted, some factories stopped production for the purpose of renovation, etc. Affected by these factors, some enterprises supporting the FAW Group like Continental, Changchun Boze, Fuda Group, etc. witnessed reductions of imports and exports to varied degrees. In addition, with the orders being gradually fulfilled, rise of localization rate, etc., the imports and exports of the Changchun Railway Passenger Vehicles Co., Ltd., decreased by 17.6% and the amount of its imports and exports was nearly US$ 40 million less year-on-year.
In terms of exports, from January to April, our province’s exports were down by 5.6% and the net decrease of the amount of exports was US$ 93.21 million. From January to April, of the 92 enterprises in our province, each of which had exports over US$ 3 million, 31 saw exports declining. The key exporting enterprises with sharp export decreases were the Changchun Railway Passenger Vehicles Co., Ltd., the Sinosteel Jilin Electromechanical Equipment Co., Ltd., Dacheng Group, China-Russia Frontier Trade, and the China Oil and Food Import and Export Corporation’s Biochemistry Company, totaling five. The total net reduction of exports of the five enterprises was US$ 170 million in the first four months of the year. The enterprises with big increase in exports were the Hunchun Xinshidai Industrial and Trade Co., Ltd., the Jilin City Jianlong Steel & Iron Co., Ltd., the Changchun CRC-Bombardier Railway Vehicles Co., Ltd., the FAW Import and Export Company, and the Royal DSM Midbody (Changchun) Co., Ltd. These five enterprises’ net exports increased by US$ 100 million in the four months.
In terms of imports, from January to April, our province’s imports were down by 11.5% year-on-year, and the net decrease of the amount of imports was US$ 780 million. In the first four months of the year, of the 82 enterprises in our province, each of which had imports over US$ 3 million, 41 saw imports declining. The key importing enterprises with sharp import decreases were the FAW Import and Export Company, the Continental Automotive Electronic (Changchun) Co., Ltd. and the Jilin Ji’en Nickel Industrial Co., Ltd. The net decrease of the three enterprises’ imports totaled US$ 990 million. In the first four months, the enterprises, each of which had imports over US$ 10 million, were the FAW-VW Co., Ltd., the Shuangliao Huifeng Oils Co., Ltd., the Jilin Ji’en Trade Co., Ltd., etc. totaling eight. These enterprises’ net increase of imports was US$ 280 million in the first quarter.
(V) Jilin Province achieved growth in imports from and exports to the United States while its imports from and exports to Northeast Asia dropped. January-April, Jilin Province’s imports from and export to American markets were US$ 655.98 million, marking a year-on-year increase of 32.2%. The exports were US$ 268.8 million, marking a year-on-year growth of 25.9%; the imports were US$ 387.19 million, marking a year-on-year growth of 36.9%. The imports from and exports to the U.S.A., our major trade country, were US$ 406.05 million, marking a year-on-year growth of 20.7%; the exports were US$ 149.97 million, marking a year-on-year growth of 17.2%; the imports were US$ 256.08 million, marking a year-on-year growth of 51.1%. The imports from and export to Brazil were US$ 108.7 million, marking a year-on-year growth of 73.9%, including exports of US$ 60.94 million, marking a year-on-year growth of 407.9%, and imports of US$ 47.76 million, marking a year-on-year drop of 7.9%.
The imports from and exports to Europe (excluding Russia and the CIS) were US$ 4556.36 million, marking a year-on-year drop of 11.5%, including exports of US$ 248.05 million, marking a year-on-year growth of 3.8%, and imports of US$ 4308.31 million, marking a year-on-year drop of 12.2%. Our province’s imports from and exports to Germany were US$ 2952.89 million, marking a year-on-year drop of 11.4%, including exports of US$ 83.98 million, marking a year-on-year growth of 7.7%, and imports of US$ 2868.91 million, marking a year-on-year drop of 11.8%.
The imports from and exports to Northeast Asian markets were US$ 825.33 million, marking a year-on-year drop of 29.9%, including exports of US$ 304.86 million, marking a year-on-year drop of 11.3%, and imports of US$ 520.47 million, marking a year-on-year drop of 37.5%. The imports from and exports to Japan, our major trade country, were US$ 579.66 million, marking a year-on-year drop of 38.8%, including exports of US$ 154.29 million, marking a year-on-year drop of 26%, and imports of US$ 425.36 million, marking a year-on-year drop of 42.5%. The imports from and exports to ROK were US$ 231.39 million, marking a year-on-year rise of 0.9%, including exports of US$ 149.56 million, marking a year-on-year growth of 10.6%, and imports of US$ 81.83 million, marking a year-on-year drop of 13%.
The imports from and export to Asia (excluding Northeast Asia, Southeast Asia and Central Asia) and Africa were US$ 416.45 million, marking a year-on-year growth of 19.2%, including exports of US$ 305.92 million, marking a year-on-year growth of 32.6%, and imports of US$ 110.52 million, marking a year-on-year drop of 6.7%. The imports from and exports to South Africa, our major trade country, were US$ 50.87 million, marking a year-on-year drop of 9.8%, including exports of US$ 18.82 million, marking a year-on-year drop of 1%, and imports of US$ 32.04 million, marking a year-on-year drop of 14.3%. The imports from and exports to India were US$ 80.35 million, marking a year-on-year growth of 43.2%, including exports of US$ 71.32 million, marking a year-on-year growth of 47.2%, and imports of US$ 9.03 million, marking a year-on-year growth of 17.6%.
The imports from and exports to Southeast Asia, Taiwan, Hong Kong, Macao and Oceania were US$ 488.19 million, marking a year-on-year drop of 20.5%, including exports of US$ 287.9 million, marking a year-on-year drop of 28%, and imports of US$ 200.29 million, marking a year-on-year drop of 6.4%. The imports from and exports to Malaysia, our major trade country (region), were US$ 69.7 million, marking a year-on-year drop of 47.1%, including exports of US$ 42.56 million, marking a year-on-year drop of 55.1%, and imports of US$ 27.15 million, marking a year-on-year drop of 26.8%. The imports from and exports to the Philippines were US$ 64 million, marking a year-on-year drop of 122.7%, including exports of US$ 50.62 million, marking a year-on-year growth of 151.1%, and imports of US$ 13.38 million, marking a year-on-year growth of 56.1%. The imports from and exports to Australia were US$ 97.97 million, marking a year-on-year drop of 27%, including exports of US$ 14.69 million, marking a year-on-year drop of 76.3%, and imports of US$ 83.28 million, marking a year-on-year growth of 15.1%.
The imports from and export to Russia and its surrounding markets were US$ 166.14 million, marking a year-on-year drop of 14.9%, including exports of US$ 71.78 million, marking a year-on-year drop of 53.3%, and imports of US$ 94.36 million, marking a year-on-year growth of 126.8%. The imports from and exports to Russian, our major trade country, were US$ 147.4 million, marking a year-on-year drop of 18.8%, including exports of US$ 67.14 million, marking a year-on-year drop of 52.5%, and imports of US$ 80.26 million, marking a year-on-year growth of 99.8%.
(VI） The imports of the processing trade grew well, but the imports and exports of state-owned-enterprises were down by a large margin. January-April, our province’s imports and exports in general trade were US$ 6.39 billion, marking a year-on-year drop of 12.3%, including exports of US$ 1 billion, marking a year-on-year drop of 1.4%, and imports of US$ 5.39 billion, marking a year-on-year drop of 14%.
The imports and exports of the processing trade were US$ 520 million, marking a year-on-year growth of 3.9%, including exports of US$ 360 million, marking a year-on-year drop of 7.5%, and imports of US$ 170 million, marking a year-on-year growth of 40.9%.
From January to April, the imports and exports of foreign-funded enterprises in our province were US$ 3.81 billion, marking a year-on-year growth of 0.3%. The imports and exports of state-owned enterprises were US$ 2.25 billion, marking a year-on-year drop of 32.4%. The imports and exports of private enterprises were US$ 1.03 billion, marking a year-on-year growth of 24.6%.
II. Several concerns about our province’s foreign trade
(I) The world economy is lingering at a low speed, and the overseas market demands have not recovered yet. The impact of the international financial crisis on the world economy has not been eliminated at all. The vitality is inadequate and the growth power limited. Currently, the U.S.A. is preparing to launch the process of interest rate rise; the unrest of geopolitics is on the rise; there are more trade frictions, which has added some new risks to the world economy. In April, the leading index of China’s foreign trade export was 35.9, down by 2.3 over the previous month; the index of new export orders, the index of exporting managers’ confidence and the index of exporting enterprises’ composite cost were 39.6, 46 and 26.2 respectively, down by 0.8, 0.3 and 0.5 respectively.
(II) The imports kept declining to affect attainment of the annual objectives. From January to April, the imports and exports of our province’s foreign trade went down by 11.5 accumulatively, and the net decrease of import amount was US$ 780 million. The main reasons: First, the reduction of imports of key enterprises. The FAW Import & Export Company’s net decrease of accumulative import amount was US$ 930 million, which resulted in a huge shortfall to our province’s foreign trade development. Second, the euro exchange rate fluctuations affected imports seriously. In 2014, the average exchange rate between euro and RMB￥ was 1:8.2468, while it dropped to 1:7.0825 from January to April 2015, down by nearly RMB￥ 1.2 on average. Calculations based on that, in the first four months of this year, our province’s imports from major countries in the euro zone were US$ 3.74 billion, and the import amount was cut by about US$ 600 million due to the exchange rate change. Third, while the US$ continues to become increasingly stronger, the bulk commodity prices continue to become increasing lower around the globe. Though the bulk commodity prices rose somewhat on a monthly basis, the year-on-year decrease was still rather big. For instance, the average prices of imported crude oil and iron ore sand both plummeted over 40%, and the price of imported soybean went down by 20% year-on-year.
