Today, the General Administration of Customs released the import and export data for the first two months. According to the data, the trade balance continued to show a huge surplus in the first two months, with a surplus of US $115.96 billion, higher than 97.057 billion yuan in the same period last year, a record high in the same period in history. Among them, imports reached 428.75 billion US dollars and exports reached 544.7 billion US dollars. This was higher than US $371232 billion and US $468289 billion respectively in the same period last year. Year on year, the growth rate of export amount is faster than that of import amount.
From the high-frequency data – China export container price index (CCFI) and China import container price index (cicfi), CCFI continued to perform strongly in January and February, but it has been adjusted at a high level recently.
Judging from the branching situation of CCFI, the recent decline of Southeast Asia routes and Australia New Zealand routes is relatively obvious. From the perspective of cicfi, the performance of Australia New Zealand routes is outstanding.
To sum up, China’s foreign trade data continued to improve in the first two months of this year, the trade surplus and other data continued to hit a record high, and the trade regional structure was more balanced. However, the world economy was more uncertain due to the conflict and epidemic situation between Russia and Ukraine, and exports may be tested to some extent. However, due to China’s leading industry in the international division of labor and China’s macroeconomic policy of “focusing on me” to hedge the downward pressure on the economy, China’s export growth will still maintain a certain toughness. At the same time, the downward pressure on China’s economy will slow down and the recovery of demand may lead to a certain increase in imports.
