 Home > News > Market Flash > Foreign trade faces pressure from outbreak

Foreign trade faces pressure from outbreak

 ECHEMI 2020-05-09

China will further stabilize foreign trade while fully evaluating the uncertainties related to the COVID-19 outbreak, as the trade volume between January and April dropped 4.9 percent on a yearly basis, officials said.

Gao Feng, a spokesman for the Ministry of Commerce, said on Thursday that although the decline in foreign trade narrowed in April, the sector still faces relatively great downward pressure.

China will fully evaluate the "difficulties, risks, and uncertainties" brought by the contagion, and further stabilize its foreign trade, Gao said at a news conference.

The ministry will focus on supporting enterprises to explore the international market, helping them better deliver the order backlog and obtain new orders, he added.

During the first four months of this year, China's foreign trade volume totaled 9.07 trillion yuan ($1.28 trillion), down 4.9 percent year-on-year, according to a General Administration of Customs release on Thursday.

In April, foreign trade inched down 0.7 percent year-on-year to 2.5 trillion yuan. Exports climbed 8.2 percent year-on-year to 1.41 trillion yuan in April, compared with a drop of 3.5 percent in March. Imports fell 10.2 percent year-on-year to 1.09 trillion yuan last month.

Chen Li, an analyst at Chuancai Securities, said the rebound of export data in April exceeded market expectations. The growth was aided partly by the gradual resumption of work and production in the domestic market, Chen said.

"But on the demand side, the overseas pandemic situation may still exert an influence on China's exports," Chen said. "It will take some time for overseas orders to be restored."

Wei Jianguo, vice-chairman of the China Center for International Economic Exchanges, said despite the unexpected public health crisis, China's foreign trade still has great potential.

"Foreign trade is likely to make a recovery in the second quarter and pick up steadily in the third quarter," Wei said.

As both general trade and processing trade－China's two main types of trade－have been hit hard, enhanced efforts need to be made to develop cross-border e-commerce, he said.

Since the start of the novel coronavirus outbreak, China has rolled out a wide range of policies and measures to aid exporters in resuming production. The government introduced incentives to give firms financial support, help employees return to the workplace and reduce operational costs.

Ni Yuefeng, head of the General Administration of Customs, told Xinhua News Agency on April 30 that China will further expand its policy package to counter the impact of COVID-19 and boost the long-term and stable growth of foreign trade.

Between January and April, China's trade with the Association of Southeast Asian Nations, the nation's largest trading partner, grew 5.7 percent year-on-year to 1.35 trillion yuan.

Foreign Trade

China

 Disclaimer: ECHEMI reserves the right of final explanation and revision for all the information.

Perfect Diary denies IPO rumors, saying there are no related plans

Oil prices rise, but no rapid turnaround seen

Comment

Comment

You May Interested In

Research Grade RT Retatrutide Peptide Raw Material 99% Purity Lab Experiment Sample Only

$15/MT FOB

Silk Road Trading Co.,Ltd

GHK-Cu Copper Peptide Lyophilized Powder Cosmetic Formulation Raw Material Factory

$18/BOU FOB

Silk Road Trading Co.,Ltd

buy Factory Supply Retatrutide Peptide Lyophilized Vial 20mg Custom Lab Research Cosmetic Raw Material Bulk Wholesale With Independent Test

Factory Supply Retatrutide Peptide Lyophilized Vial 20mg Custom Lab Research Cosmetic Raw Material Bulk Wholesale With Independent Test

$55/BOU FOB

Silk Road Trading Co.,Ltd

buy Research Grade Semaglutide Synthetic Peptide Raw Material HPLC 99% Purity In Vitro Experiment Sample Only





Popular Tags

Daily Morning Brief

2026-09-05

Albemarle Appoints New CEO After 7 Years

Engro Holdings sells Engro Polymer & Chemicals to Lotte Chemical Pakistan

AGP Hires Former Macquarie Star Trader Nick OâKane as Co-CEO

Zijin Mining VP: Global ESG Trends Diverge as Chinese Firms Increase Focus

Citadel Seeks to Acquire US Shale Oil Production Assets, Sources Say

View All

Trade Alert

Delivering the latest product trends and industry news straight to your inbox.
(We'll never share your email address with a third-party.)

Recommend Reading

Hot Searches: emulsifiers for cosmetics; thioacetone for sale; thiourea msds; sitrate; amoxycillin and potassium clavulanate tablets; calcium ammonium nitrate for sale; food grade defoaming agents; alumina alumina; hydroflurocarbon 152a; na-931 buy online; pvb 2; propane sds bernzomatic



Feedback & Suggestions

Send Message

Thank you for your feedback. If you require further assistance, please contact us by email at info@echemi.com or call us at +86-532-55729510.

Foreign trade faces pressure from outbreak

Perfect Diary denies IPO rumors, saying there are no related plans

Oil prices rise, but no rapid turnaround seen

You May Interested In

Research Grade RT Retatrutide Peptide Raw Material 99% Purity Lab Experiment Sample Only

GHK-Cu Copper Peptide Lyophilized Powder Cosmetic Formulation Raw Material Factory

Factory Supply Retatrutide Peptide Lyophilized Vial 20mg Custom Lab Research Cosmetic Raw Material Bulk Wholesale With Independent Test

Research Grade Semaglutide Synthetic Peptide Raw Material HPLC 99% Purity In Vitro Experiment Sample Only

Lab Use Only Melanotan II MT-2 10mg Lyophilized Peptide Raw Material With Batch COA

β-Nicotinamide Adenine Dinucleotide High Quality NAD+ CAS 53-84-9 Exclusive Production Factory CAS NO.53-84-9

Related News

Recommend Reading