China's imports of 1-3 months to 6 years high first quarterly deficit

Ministry of Commerce spokesman Yao Jian at a regular press conference yesterday, informed the first quarter of China's foreign trade situation. According to
customs statistics, from January to March, the country imports and exports amounted to 800.31 billion U.S. dollars, an increase of 29.5%. Among this, exports
399.64 billion  
U.S. dollars, up 26.5%; imports 400.66 billion U.S. dollars, up 32.6%, trade deficit of 1.02 billion (previous year surplus of $ 13,920,000,000 for the same period).
Yao said the first quarter foreign trade is mainly characterized by the following four characteristics:
First, imports hit a record high, a slight quarter deficit. Slow recovery in the world economy and international market demand to pick up the case of the
first quarter, exports reached 399.64 billion U.S. dollars, up 26.5%, which rose 11 percent boost;
Increase in domestic demand, international commodity prices and other factors together, imports reached 400.66 billion U.S. dollars, a record quarterly high
of scale, an increase of 32.6%, of which prices driving 16.5 percent. As imports grew faster than exports
Growth rate in the first quarter trade deficit of 1.02 billion U.S. dollars, nearly 6 years, first quarterly deficit.
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Second, the export share of Europe fell, with some emerging markets, rapid growth in trade. In the first quarter, I am the European Union, U.S. exports
increased by 17.2% and 21.4% of total exports accounted for 19.2% and 16.5%, respectively, 1.5 and 0.7 percentage points down
Point. Exports to Japan increased by 28.1%, higher than the overall increase of 1.6 percentage points; imports from Japan increased 26.4%, lower than the
overall increase of 6.2 percentage points. And some emerging markets such as South Africa, Brazil bilateral trade grew rapidly, with trade volume increased
by
107.1% and 57.7%.
Third, rising values ??increase in volume of imports of resources products, textile products, export growth is better than the mechanical and electrical
products. The first quarter, crude oil, iron ore, oil imports increased by 11.9%, 14.4% and 27.7%, prices rose by 24.3%, 59.5% and 18.7%,
Total imports of the three commodities increased by 9.1 percentage point boost, which rose 5.9 percentage points driven. Clothing, textiles, footwear,
furniture, luggage, toys and total exports of 71.99 billion U.S. dollars, up 23.8%. Export of electromechanical products 232 030 000 000
U.S. dollars, up 22.8%, lower than the overall increase of 3.7 percentage points, in which automatic data processing equipment, integrated circuits, color TV
and motorcycle exports increased by 5.8%, 12.5%, 14% and 16.6%, respectively, lower than the overall export growth.
Fourth, the proportion of processing trade exports declined, the incremental contribution to the general trade more imports. The first quarter, exports
184.51 billion U.S. dollars of processing trade, up 21.6%, 46.2% share of total exports, down 1.8 percentage points; import 107.4 billion U.S. 
Yuan, up 20.9%. General trade exports 185.97 billion U.S. dollars, up 31.7%, the proportion of total exports of 0.3 percentage points higher than the
processing trade; imports 231.95 billion U.S. dollars, up 37.4%, higher than the overall increase of 4.8 percentage points, incremental imports
Contributed 64.1%, driving imports up by 20.9 percentage points. General trade deficit increased significantly, to 45.99 billion U.S. dollars, an increase of
66.5%. t