The export proportion of textile and apparel reduced in the first half (China)

According to customs statistics, on July 10th in 2012, In the first half of 2012 ,China`s foreign trade imports and exports valued at USD 1,839.84 billion. Compared with the same period in 2011 increased 8.0%. Among them, export USD 954.38 billion, an increase of 9.2% y/y; imports amounted to USD 885.46 billion up 6.7% y/y. USD 68.92 billion trade surplus.

The export proportion of traditional labor-intensive products reduced. In the first half of 2012 , The export of such as textiles, clothing, luggage, footwear, toys, furniture and plastic products ,the 7 major categories of labor-intensive products amounted to USD 186.47billion, an increase of 7.7%. accounted for 19.5% of the total exports , down 0.3 percentage points.

The second half of the year, China’s foreign trade faces many uncertainties: First, the current international financial crisis is still fermenting, the world economic recovery is weak; the serious debt problems of major developed economies; the unemployment rate remains high and low consumer confidence. Second, the domestic economic showed an independent fall after a rise. On the pressure of economic downturn, domestic demand also slowed down. Third , export enterprises’ operating costs increased.Such as labor costs, RMB exchange cost and financing cost. And then export price competitiveness has been weakened and international market share reduced. From January to May, China labor intensive products (including textiles, clothing, luggage, footwear, toys, furniture and plastic products ,the 7 major categories of labor-intensive products) accounted for 63.3% of the similar products in the Japanese imports, down 0.4 percentage points over the same period, While Vietnam, Indonesia and Bangladesh, were increased 0.7% 0.2% and 0.2% respectively. The same situation with the United States and the European Union markets. Fourth , during the financial crisis, Europe and the United States, the main economies adopt trade protection, trade barriers endless, retrofit, and quickly spread to emerging markets.