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Maritime Silk Road Trade Index: ASEAN becomes China’s largest trading partner

From January to February 2020, the Maritime Silk Road Trade Index (STI) released by the Ningbo Shipping Exchange showed that the import and export trade index was 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%; 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: total export trade value was US $ 292.449 billion, down 17.11% year-on-year; total import trade value was US $ 299.544 billion, down 3.23% year-on-year; trade deficit was US $ 7.096 billion.

China’s trade with continents
From January to February 2020, China’s import and export trade value with Asia 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; 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 115.931 billion US dollars, 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 3.00%.

To Africa, China’s import and export value 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%.

To 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 46.901 billion US dollars, a year-on-year decrease of 27.52%; the value of import trade was 20.651 billion US dollars, a year-on-year decrease of 8.21%.

To Latin America,China’s import and export trade value was 45.457 billion US dollars, 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 18.496 billion US dollars, a year-on-year decrease of 12.18%; the import trade value was 26.961 billion US dollars, 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 6.939 billion US dollars, a year-on-year decrease of 17.09%; the import trade value was 21,837 million US dollars, a year-on-year increase of 4.49%.
Source: Maritime Silk Road Trade Index

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