Chinas slowdown in imports in April shows that the demand is sluggish

The growth rate of total imports in April this year has slowed down, showing that Chinese domestic demand is still weak.

The General Administration of Customs of China announced on Tuesday (May 9) that in the first four months of this year, the total value of China's foreign trade import and export was 1.332 trillion yuan (RMB, the same below, about 2.55 trillion yuan),A year -on -year increase of 5.8%, of which exports were 7.67 trillion yuan, a year -on -year increase of 10.6%; imports were 5.65 trillion yuan, a year -on -year increase of 0.02%.

Among them, the growth rate of imports in April this year decreased by 0.8%year -on -year, and exports increased by 16.8%.

Statistics show that in the first four months of this year, China imported and exported to countries along the “Belt and Road” 4.61 trillion yuan, an increase of 16%year -on -year.Among them, the five Central Asian countries such as Kazakhstan, and the import and export of South Africa countries such as Saudi Arabia increased by 37.4%and 9.6%, respectively.

At the same time, Asia Jia'an continued to be China's largest trading partner. China import and export to Asia's Danan 2.09 trillion yuan, an increase of 13.9%year -on -year, accounting for 15.7%of China's total foreign trade value;Yuan, a year -on -year increase of 4.2%, the growth rate accelerated by 2.2 percentage points over the first quarter.

Statistics also show that in the first four months of this year, 415,000 private enterprises with import and export performance in China, an increase of 8.9%year -on -year. Private enterprises continued to maintain the position of China's largest operating subject.The import and export of private enterprises was 7.05 trillion yuan, an increase of 15.8%year -on -year, accounting for 52.9%of China's total foreign trade value.

Johor analysis, the import growth rate continues to decline year -on -year, indicating that China's imports are also dragged down by seasonal factors and the continuous weak recovery of the domestic economy.

Bloomberg report also predicts that China's total export value is expected to decline in 2023, because the rise in prices and interest rates, the level of high inventory and the Russian and Ukraine War will become a global consumer demand.