Wenzhou Mechanical and Electrical Imports grow rapidly

According to statistics released recently by the Wenzhou Customs, in the first two months of this year, imports of certain electromechanical products in the city grew rapidly, releasing a positive signal of the pace of transformation and upgrading of the temperature enterprises in the new normal.

However, the overall situation of foreign trade is still severe. According to statistics, in January-February, the city's total import and export value was 18.017 billion yuan (the same below), a year-on-year decrease of 21.6%. In particular, in February, affected by factors such as the continuing downturn in international trade and corporate holidays during the Spring Festival, the city’s total value of imports and exports was 6.982 billion yuan, a decrease of 34.11% year-on-year, which was “a chilly season”.

Both imports and exports went lower. According to statistics, from January to February, the city’s exports were 15.894 billion yuan, a decrease of 20.74%; imports were 2.071 billion yuan, a decrease of 27.67%. In February, exports were 6.248 billion yuan, a decrease of 34.38%; imports were 735 million yuan, a decrease of 31.71%.

According to customs analysis, the rapid decline in imports of ferro-alloys, primary-shaped plastics, and other commodities led to a downward spiral of imports that had once been in turbulence last year. “Some companies started their holiday in early February and until mid-to-late February, some companies haven’t started yet, and that month’s exports have naturally decreased,” said Wenzhou Customs. It is worth noting that in the first two months of this year, imports of some electromechanical products grew rapidly, such as "liquid pump and liquid hoist" increased by 20.97 times, "printing and binding machinery and parts" increased by 29.16%, "rubber or plastic processing machinery and Parts" increased by 9.67 times, and the momentum was gratifying. In the first two months, the city also achieved a total of 34.65 million yuan in toy exports, a year-on-year increase of 21.48%, becoming the only year-on-year growth in exports of traditional labor-intensive products during this period.

In the export market, from January to February, the city’s exports to the major export markets decreased year-on-year, of which, exports to the EU were 4.91 billion yuan, a year-on-year decrease of 17.08%; exports to the United States were 2.375 billion yuan, a year-on-year decrease of 12.47%, for the year 2015 For the first time since the decline. It is worth noting that the decline in exports to Russia continues to narrow, with a decline of 8.31 percentage points over the same period of last year.