Foreign Trade News in May

According to customs data, in May 2023, China’s imports and exports of 3.45 trillion yuan, an increase of 0.5%. Among them, exports of 1.95 trillion yuan, down 0.8%; imports of 1.5 trillion yuan, up 2.3%; trade surplus of 452.33 billion yuan, narrowed by 9.7%.

In dollar terms, in May this year, China’s imports and exports of 510.19 billion U.S. dollars, down 6.2%. Among them, exports of $283.5 billion, down 7.5%; imports of $217.69 billion, down 4.5%; trade surplus of $65.81 billion, narrowing 16.1%.

Experts said that in May, China’s export growth rate turned negative, there are three main reasons behind:

First, by overseas economic growth momentum downward, especially the United States, Europe and other developed economies, current external demand is weak overall.

Second, after the peak of the epidemic in May last year, China’s export growth rate base is high, which also depressed the level of year-on-year export growth in May this year.

Third, the recent decline in China’s exports in the U.S. market share faster, the U.S. imports are more from Europe and North America,  which also has a certain impact on China’s overall exports.

With the expansion of the overseas market strategy of Made in China, Chinese foreign trade enterprises want to do well in foreign trade exports. They must continue to strengthen the quality of their products to achieve core competitiveness in the international market.

For WPC flooring, we also need to focus on innovation. We need to Keepan eye on market changes and communicate with customers so order to know Customer needs and aesthetic changes. Only in this way, the enterprise can go longer and become prosperous.


Post time: Jun-21-2023