The Maritime Silk Road Trade Index China Trade Down In Nearly All Regions Due To Covid-19

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The Ningbo Shipping Exchange has released the first two months figures for 2020. From January to February 2020, the Maritime Silk Road Trade Index (STI) show that the import and export trade index ranked at 103.51 points, a year-on-year decrease of 10.62%; the export trade index was 101.38 points, a year-on-year decrease of 17.11%; while the import trade index was 105.68 points, down 3.23% year-on-year.

China’s total import and export trade value was US$591.993 billion, a year-on-year decrease of 10.62%. Among them: the total export trade value was US$292.449 billion, down 17.11% year-on-year; the total import trade value was US$299.544 billion, down 3.23% year-on-year; and the trade deficit was US$7.096 billion.

China’s Continental Trade 

In Asia, during the first two months of the year, China’s import and export trade value was US$307.592 billion, a year-on-year decrease of 7.46%, accounting for 51.96% of China’s total import and export value. The value of export trade value was US$ 145.987 billion, down 13.12% year-on-year; while the value of import trade was US$ 161.604 billion, down 1.68% year-on-year.

To Europe, China’s import and export trade value was US$115.931 billion, a year-on-year decrease of 12.15%, accounting for 19.58% of China’s total import and export value. The value of export trade was US$60.422 billion, a year-on-year decrease of 19.15%; the value of import trade was US$55.508 billion, a year-on-year decrease of 3%.

China’s import and export trade value with Africa was US$26.604 billion, a year-on-year decrease of 17.20%, accounting for 4.49% of China ’s total imports and exports value. The value of export trade was US$13.704 billion, a year-on-year decrease of 13.79%; the value of import trade was US$12.90 billion, a year-on-year decrease of 20.53%.

With North America, China’s import and export value was US$67.552 billion, a year-on-year decrease of 22.54%, accounting for 11.41% of China’s total import and export value. The value of export trade was US$46.901 billion, a year-on-year decrease of 27.52%; the value of import trade was US$20.651 billion, a year-on-year decrease of 8.21%.

In South America, China’s import and export trade value was US$45.457 billion, a year-on-year decrease of 7.69%, accounting for 7.68% of China’s total import and export value. The export trade value was US$18.496 billion, a year-on-year decrease of 12.18%; while the import trade value was US$26.961 billion, a 4.33% year-on-year decrease.

To Oceania, China’s import and export trade value was US$28.876 billion, a year-on-year decrease of 1.68%, accounting for 4.86% of China’s total import and export value. The export trade value was US$6.939 billion US dollars, a year-on-year decrease of 17.09%; with the import trade value being US$21,837 million US dollars, a year-on-year increase of 4.49%.

China’s Major Import & Export Commodities By Continent
We are grateful to the Ningbo Shipping Exchange for providing these statistics.

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About Us

Silk Road Briefing is written by Dezan Shira & Associates. The firm provides strategic analysis, legal, tax and operational advisory services across Eurasia and has done since 1992. We maintain 28 offices throughout the region and assist foreign governments and MNC’s develop regional strategies in addition to foreign investment advice for investors throughout Asia. Please contact us at asia@dezshira.com or visit us at www.dezshira.com

 

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