Export Decline Of Multi Class Labor-Intensive Products

Under the double pressure of the world economy generally facing recovery pressure and weak domestic demand, October

Data has also been under a lot of pressure.

In November 8th, the General Administration of Customs released data showing that in October, China's import and export value was 2 trillion and 60 billion yuan, down 9%.

The total export volume was 1 trillion and 230 billion yuan, down 5.7% from the previous month, which is the first time that the total export volume has decreased by 7 months.

Import and export volume decreased by 8.1% in the first half of October.

Statistics show that total exports in October amounted to 1 trillion and 230 billion yuan, down 3.6% from the same period last year, and imports of 833 billion 140 million yuan, down 16% from the same period last year. The trade surplus was 393 billion 220 million yuan, an increase of 40.2% over the same period last year.

In the past 7 months, China's exports have declined for the first time since the year-on-year period. This is a year-on-year decline in China's exports for the fourth consecutive month.

Imports continued a year-on-year decline.

Data show that from 1 to March this year, China's foreign trade exports have been down for three months in a row, and the decline has reached two digits.

Xu Hongcai, Minister of Economic Research of China International Economic Exchange Center, said that China's imports and exports declined in October, and the negative growth intensified. There was no improvement in quantity. This was mainly due to the weak external demand, while domestic production costs rose, the economic downward pressure increased, and import domestic demand was weak.

Accumulatively, in the first 10 months of this year, China's total import and export volume was 19 trillion and 930 billion yuan, down 8.1% from the same period last year (the same below).

Export decline of multi class labor-intensive products

Behind the decline of the data is the optimization and upgrading of the structure. "Not all types of exports are slumping, and the export of labor-intensive products is the worst."

Yao Jingyuan, chief economist of the former National Bureau of statistics, said on the 7 Zhengzhou service outsourcing Innovation Conference.

The figures given by the General Administration of customs also confirm this point, before October.

Textiles,

The 3 types of labor-intensive products all showed negative growth, while the exports of the 3 categories of products decreased by 7%, 1.4% and 4.7%, respectively.

In addition, steel exports also fell by 6.6% over the same period last year.

"The end of the demographic dividend, China's labor force advantage no longer, and Vietnam, Kampuchea and Indonesia are learning China to vigorously develop processing trade."

Yao Jingyuan said that the average wage per worker in Vietnam is only 1/2 of the average wage of Chinese workers, and Kampuchea is cheaper.

However, there are still bright spots in the throes of structural adjustment. In the global trade, China's electromechanical exports and service trade are increasing.

In the first 10 months, China's mechanical and electrical products exported 6 trillion and 580 billion yuan, an increase of 1.4%.