Sichuan 2014 Export and Import Trade Analysis

Source:ASKCI  Date：2015-04-09

According to customs statistics, gross value of foreign imports and exports in trade of Sichuan in year 2014 achieved RMB431.47 billion, increasing by 7.7% compared with that of in 2013 (same hereinafter) and 2.3% of nationwide total imports and export in the corresponding period. In particular, the value of exports reached RMB275.4 billion, increasing by 5.8% with 4.9% higher than the nationwide export growth in the corresponding period; the imports value hit RMB156.07 billion, increasing by 11.2% with 0.6% slightly lower than the nationwide import growth in the corresponding period. 

In USD terms, the export and import trade of Sichuan in 2014 reached USD70.25 billion, increasing by 8.8%, among which USD44.85 billion were for exports with increase of 6.9% and USD25.4 billion were for imports with increase of 12.3%. On the basis of the breakthrough of USD60 billion in 2013, the stage of USD 70 billion was again stepped onto.

The export and import trade of Sichuan in 2014 is mainly with following features:

I. The foreign trade operation throughout the year was generally stable and got boomed and readjusted in the third quarter and fourth quarter in respective. The foreign imports and exports trade values of Sichuan in each quarter of year 2014 was RMB105.29 billion, RMB101.15 billion, 114.31 billion and 110.72 billion separately with year-on-year growth rate increased by 11.5%, 8.6%, 15.1% and dropped by 2.9%. Both the scale and growth rate reached the peak in t4eh third quarter, but the fourth quarter which should be the traditional peak season for foreign trade showed a slight drop due to the higher base number of pervious year.

II. Processing trade and general trade had an equal market share and commodity within logistics areas got the highest growth. In 2014, the imports and exports value of Sichuan collected by means of processing trade (the principal mode of trade) reached RMB 174.91 billion, increasing by 3.9% and taking up 40.5% of overall import and export business in Sichuan. Meanwhile, the imports and exports value of Sichuan collected through general trade hit RMB169.52 billion, slightly increasing by 0.2% and taking up 39.3%; the import and export of commodity in customs special supervision logistics areas (commodity within logistics areas for short) reached RMB70.2 billion, increasing by 72.9% substantially, boosting the provincial overall foreign trade growth by 7.4% and taking up 16.3% of overall import and export business in Sichuan.

III. Rapid growth in bilateral trade with the USA and decline with the EU; in 2014, the bilateral trade volume between Sichuan and the United States reached RMB94.2 billion, increasing by 28.4% and taking up 21.8% of provincial overall imports and exports value. The bilateral trade volume with ASEAN reached RMB72.14 billion, increasing by 1.5% and taking up 16.7%, but the trade volume with the EU was RMB59 billion, decreasing by 2.3% and taking up only 13.7%; moreover, the bilateral trade volume with Hon Kong and Japan reached RMB35.86 billion and 23.15 billion, increasing by 17.1% and 0.9% and taking up 8.3% and 5.4% in respective.

IV. Foreign-invested enterprise as the largest trade entity and private enterprise fulfilled with dynamic power. In 2014, the imports and exports volume of foreign-invested enterprise in Sichuan reached RMB211.04 billion, increasing by 8.6%, boosting the provincial overall foreign trade growth by 4.1% and taking up 48.9% of gross foreign trade value of Sichuan; in addition, the imports and exports volume of private enterprise amounted to RMB146.73 billion, increasing by 13.4% and taking up 34%, being regarded as the foreign trade entity with the fastest growth rate as it boosted the provincial overall foreign trade growth by 4.3%. Besides, the imports and exports volume of state-owned enterprise was RMB50.17 billion, dropping by 17.7% and taking up only 11.6%.

V. Customs special supervision logistics area is the mainstay of foreign trade. In 2014, the import and export volume of Chengdu High-tech Comprehensive Bonded Zone reached 198.23 billion, increasing by 15.7%, boosting the provincial overall foreign trade growth by 6.7% and taking up 45.9% of gross foreign trade value of Sichuan; in particular, the import and export volumes of high-tech bonded zone and Shuangliu bonded zone reached RMB159.31 billion, increasing by 8.8% and RMB38.92 billion, sharply increasing by 55.9% in respective.

VI. The export volume of electromechanical products increased rapidly and traditional labor intensive products was declined. In 2014, the export volume of primary commodity of Sichuan reached RMB5.19 billion, increasing by 7.3%; the export volume of semi-finished industrial product hit RMB 34.19 billion, dropping by 0.5%; the export volume of finished industrial product hit RMB236.02 billion, increasing by 6.7%. The proportional relation of exporting primary commodity, semi-finished industrial product and finished industrial product was 1.9:12.4:85.7, unlike the proportional relation of 1.9:13.2:84.9 of last year, the export volume proportion of finished industrial product was increased and the semi-finished industrial product was dropped, while the export volume of primary commodity was basically even.

In 2014, the export volume of electromechanical products mainly like laptop and integrated circuit from Sichuan amounted to RMB179.68 billion, increasing by 6.8%, boosting the provincial overall foreign trade growth by 4.4% and taking up 65.2% of gross foreign trade value of Sichuan. Apart from that, the export volume of 7 kinds of traditional labor intensive products from Sichuan reached RMB39.03 billion, dropping by 11.9%, wherein, the export volume of clothing was RMB11.6 billion, dropping by 5.3%; the export volume of shoes & boots enjoying competitive industrial advantage locally reached RMB9.53 billion, increasing by 12.9%; the export volume of textiles amounted to RMB7.48 billion, slightly dropping by 0.5%; the export volume of plastic products hit RMB3.89 billion, dropping by 21.4% slightly; the export volume of furniture was RMB3.85 billion, decreasing by 44.1%; the export volume of travel accessories and baggage reached RMB2.63 billion, dropping by 37.4% and the export volume of top was RMB50 million, increasing by 94.9% substantially.

VII. More than 70% of imported commodities were electromechanical products and the import volume of metallic mineral ore was largely declined. In 2014, the value of imported electromechanical products of Sichuan reached RMB114.86 billion, increasing by 12.4%, boosting the provincial overall foreign trade growth by 9% and taking up 73.6% of gross import value of Sichuan. The major imported products covered integrated circuit, diode, detecting instrument and laptop parts and components, etc. In addition, the value of imported organic chemicals hit RMB 9.17 billion, increasing by 25.6%, value of imported metallic mineral ore of RMB4.57 billion, dropping by 31.4%, agricultural products of RMB2.84 billion, increasing by 8.9% and paper pulp of RMB1.68 billion, increasing by 27.2%.

Source: ASKCI

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