China News Service, April 14, Li Kuiwen, spokesperson of the General Administration of Customs and director of the Statistics and Analysis Department, said on the 14th that according to customs statistics, the total value of Sino-US trade in the first quarter of this year was 668.01 billion yuan, a year-on-year decrease of 18.3%. At the same time, with the gradual implementation of the first phase of the Sino-US economic and trade agreement, imports of soybeans, pork, cotton and other commodities from the United States have grown rapidly. In the first quarter, imports of agricultural products from the United States amounted to 35.56 billion yuan, an increase of 1.1 times.
On the 14th, the State Council Office held a press conference on imports and exports in the first quarter of 2020. Li Kuiwen made the above statement when answering questions from reporters. He pointed out that with the gradual implementation of the first phase of the Sino-US economic and trade agreement, there have been some positive factors in the bilateral economic and trade, especially the recent import of some commodities from the United States has shown a good growth momentum. But at the same time, it should also be noted that due to the impact of the new coronary pneumonia epidemic and the extension of the Spring Festival holiday this year, exports to the United States declined in the first quarter.
According to Li Kuiwen, according to customs statistics, in the first quarter of this year, the total value of Sino-US trade was 668.01 billion yuan, down 18.3% year-on-year; of which, exports to the United States were 476.55 billion yuan, down 23.6%; imports from the United States were 191.46 billion yuan, down 1.3%. From the perspective of export commodities, China ’s exports of mechanical and electrical products to the United States in the first quarter amounted to 292.57 billion yuan, a decrease of 24.1%, accounting for 61.6% of the total value of exports to the United States during the same period. Among them, the export of mobile phones was 36.17 billion yuan, a decrease of 10.3%. Its parts and components were 51.63 billion yuan, down 31.2%. In the same period, the export of labor-intensive products was 105.77 billion yuan, a decrease of 26.1%; the export of medical materials and drugs was 5.25 billion yuan, an increase of 6.3%.
In terms of imports, with the gradual landing of the first phase of the Sino-US economic and trade agreement, imports of soybeans, pork, cotton and other commodities from the United States have grown rapidly. In the first quarter, imports of agricultural products from the United States amounted to 35.56 billion yuan, an increase of 1.1 times. Among them, the import of soybeans was 7.814 million tons, an increase of 2.1 times, and the value was 21.88 billion yuan, an increase of 2.1 times; the import of pork was 168,000 tons, an increase of 6.4 times, and the value of 3.04 billion yuan, an increase of 16 times; the import of cotton was 124,000 tons, an increase of 43.5%, The value is 1.59 billion yuan, an increase of 17%.