August full-caliber import and export monthly report: supply and demand disturbances, both import and export weakened

      Tengjing’s full-caliber data shows that in August 2022, my country’s full-caliber goods exports (in RMB, current prices) increased by 12.56% year-on-year, a larger drop than the previous month, but still maintained at a level of more than 10%. The constant price growth rate is -0.36%, which is 13 percentage points behind the current price growth rate. The price contribution cannot be ignored. Overall, due to the fall in external demand and the impact of the epidemic on the supply side, combined with the subsidence of the low base effect, the growth rate of my country’s exports of goods declined significantly in August. In the context of weakening global demand and rising recession expectations, subsequent exports may continue to be under pressure

      From the perspective of importing countries and regions, the growth rate of my country’s imports to the EU in August ended the year-on-year contraction that began in September last year, and turned to positive growth, with the growth rate rising by 11 percentage points to 7.7%; The import growth rate of ASEAN and ASEAN declined, and the year-on-year growth rate of imports fell to -3.43%, -4.44%, and 9.64% respectively.