n the 8th, according to data released by the General Administration of Customs, China's total import and export value in July was 3.46 trillion yuan, a year-on-year decrease of 8.3%. Among them, exports decreased by 9.2% year-on-year.

Export growth to ASEAN, decline to Europe and America

From the perspective of specific export destinations, China's exports to ASEAN, the largest trading partner, have maintained growth, while imports from the European Union and the United States have shown growth.

As China's second largest trading partner, the EU has a bilateral trade value of 3.22 trillion yuan, a decrease of 0.1%, accounting for 13.7%.

In the first seven months, the total trade value between China and ASEAN was 3.59 trillion yuan, an increase of 2.8%, accounting for 15.3% of China's total foreign trade value.

The United States, as China's third largest trading partner, continues to decline, with a total bilateral trade value of 2.64 trillion yuan, a decrease of 9.6%, accounting for 11.2%.

In addition, China's imports and exports with Japan, the fourth largest trading partner, decreased by 5.8%, accounting for 5.4%. Among them, exports to Japan amounted to 639.56 billion yuan, a decrease of 0.4%; Import from Japan reached 632.71 billion yuan, a decrease of 10.8%; The trade surplus with Japan was 6.85 billion yuan, compared to a trade deficit of 66.8 billion yuan in the same period last year.

Over the same period, China's imports and exports to countries along the "the Belt and Road" totaled 8.06 trillion yuan, up 7.4%. Among them, exports reached 4.76 trillion yuan, an increase of 12.6%; Import reached 3.3 trillion yuan, an increase of 0.5%.

The export volume of finished oil products in the first seven months expanded to 36.616 million tons, a year-on-year increase of 46.2%; The export amount was 27.4168 billion US dollars, an increase of 24.5%.

There is also an upward trend in the downward trend

Overall, most sub categories in China's export and import commodity structure have experienced a decline, indicating that the global economic and trade slowdown has indeed entered the "deep water zone".

However, there are also some commodities that have risen against the trend, becoming an important support for China's foreign trade development.

In the first seven months, the amount of "automobiles and chassis" exported by China surged by 103.8%, the export amount of ships increased by 16.2%, the export amount of automotive parts increased by 10.1%, the export amount of luggage and similar goods increased by 10%, and the export amount of general machinery and equipment increased by 2.1%.

Low growth under the weak recovery of world trade

From a global perspective, the weak recovery of global trade has become a common challenge faced by multiple economies.

According to data released by the China Federation of Logistics and Purchasing, the global manufacturing PMI in July was 47.9%, an increase of 0.1 percentage points compared to the previous month. This has been the fourth consecutive month on month decline, indicating that the overall recovery rate of the global manufacturing industry is still relatively slow.

Zhang Yansheng, Chief Researcher of the China Center for International Economic Exchange, stated that the current global economic and trade situation is "neither good nor bad".

On the one hand, global economy and trade are more difficult than last year, and overall external demand is not good; On the other hand, the global economy also has its resilience.

Lu Daliang, spokesperson for the General Administration of Customs and Director of the Department of Statistics and Analysis, stated that China's foreign trade is indeed facing pressure, ups and downs, and challenges, but the road ahead is long and the journey is approaching.

The long-term fundamentals of China's economy have not changed, coupled with a good industrial system and complete production capacity, making foreign trade development resilient and with ample room for maneuver.

At the same time, a series of stable foreign trade policies and measures have been successively introduced, and their comprehensive effects are continuously showing, which still have solid support for promoting stable scale and optimal structure of foreign trade.