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2017 China Trade Statistics
Turkey’s export to China was expected to be higher in December because as China’s import fell in February, Turkey’s export to China was dropped too, but Turkey’s export to China did not increase while China’s import was growing in December.
In 2017, China’s trade volume increased by 14.2% to ￥27.79 trillion. Contrary to the decline in the previous two years, the volume of trade has increased. In December, export increased by 10.8% to $ 15.33 trillion ($ 238 million) while import rose by 18.7% to $ 12.46 trillion ($ 193 billion). In December, both export and import saw the highest level of the year. Due to the rapid increase in import, the trade surplus in December fell by 14.2% to ¥ 2.87 trillion ($ 44.5 billion). In 2017, China’s quarterly trade volumes were higher than the previous quarter each time. The trade volumes from the first quarter to the fourth quarter were ￥6.17 trillion, ￥6.91 trillion, ￥7.17 trillion and ￥7.54 trillion respectively.
Last year, China’s trade with the EU, the US and ASEAN countries increased by 15.5%, 15.2%, and 16.6%, respectively. This three constitute 41.8% of China’s trade volume.
China’s trade with Russia, Poland, and Kazakhstan has increased at record levels. China’s trade with these countries increased by 23.9%, 23.4%, and 40.7% respectively.
Private companies also increased their trade volume. Private firms in 2017 had ¥ 10.7 trillion in export and import. This figure increased by 15.3% over last year.Trade carried out by private companies accounted for 38.5% of the total trade volume.
Electrical-electronic goods and labor-intensive products have been the main force of export as usual in 2017. The share of electrical-electronic products in export was 58.4% while the share of labor-intensive products was 20.1%.
Car exports increased by 27.2%, computer exports by 16.6%, and telephone export by 11.3%.
The reason for the booming in China’s export is shown as the increase in global demand. The increase in import is attributed to the reduction in customs taxes and strong domestic consumption. Turkey’s export in December was expected to be more in such an atmosphere because as China’s import fell in February, Turkey’s export to China was dropped too, but Turkey’s export to China did not increase while China’s import was growing in December.