CHINA’S HARDWARE IMPORT AND EXPORT STATUS IN FIRST THREE QUARTERS IN 2017

In first three quarters of 2017, The total external trade of China grown quicker, trade structure is further optimized, motivation conversion is accelerated, stabilizing trend is firmer. From January to September, China’s total foreign trade is 20.29 trillion CHY, 16.6% higher as this time last year. 11.16 trillion within is export and increased by 12.4%, while 9.13 trillion is import and increased by 22.3%. China got 2.03 trillion surplus, which declined 17.7%. Under such circumstance, our hardware industry’s overall external trade shows a steady pick-up trend, export and import continually peaking on each month of that three quarters. The import amount also the growth is accelerating.

According to custom statistic, From January to September 2017, China’s cumulative total imports and exports of Hardware is 93.298 billion USD, increased 9.37% comparing same term last year. The growth is turned from last year’s negative to positive and raised 16.96% as year before. In the growth, the cumulative export is 76.12 billion USD. It has a 9.63% rise and 18.38% more than last year. The cumulative import on the other hand is 17.176 billion USD. It has a 8.23% rise and 10.25% more than last year. From January to September, the whole industry achieved a 58.946 billion USD external trade surplus. The surplus consecutively added 3.895 billion USD and raised 7% as the same time last year.

From January to September 2017, the product categories of China’s hardware import and export have been ranked as building hardware, tools, bathroom products, daily used hardware, cooking utensils, locks, gas cooking appliances, kitchen equipment, stainless steel tableware, zippers, and extractor hoods. Among all product categories，building hardware, tools, bathroom products and daily used hardware’s cumulative total imports and exports to the entire industry accounted for 32.86%, 18.41%, 13.51% and 12.89%.

From January to September 2017，the main countries which China’s hardware export to are America, Japan, Germany, Korean, Britain, Hong Kong, Taiwan, Vietnam, Italy, Australia and other 233 countries and regions worldwide. Comparing with the same term last year we have 2 more trading partners and lost 1 trading partner. The Import comes from Germany, Japan, America, Korean, Taiwan, Italy, France, Britain, Malaysia and 162 countries and regions worldwide. Added 25 trading partners and reduced 21 as the same period last year.

The main foreign trade mode of our hardware industry is general trade mode. From January to September 2017, the foreign trade amount achieved with general trade mode is 65.705 billion USD, increased by 10.60% as last year and toke 70.43% of the whole industrial external trading amount.

From January to September 2017，most of hardware export was achieved in Guangdong, Zhejiang, Jiangsu, Shanghai, Shandong, Fujian, Hebei, Tianjin, Liaoning, Beijing and other area. 95.51% of total hardware exports are achieved by those areas. As to import, it’s mostly concentrated in Shanghai, Jiangsu, Guangdong, Beijing, Shandong, Zhejiang, Tianjin, Liaoning, Jilin, Fujian, etc.，The import of areas above covered 89.62% of the total.

With the further developing of Belts and Road Initiative and the steady progressing of international capacity cooperation, China’s foreign trade gained an expansive space for sustained development. in first three quarters, China’s hardware industry achieved 23.733 billion USD trading with the countries along the Belt and Road route. It covered 25.44% of the total hardware foreign trade and had a 7.40% grew comparing with the same term last year. This situation severely influenced the external trading of the whole industry.

Among all the Belts and Roads trade partners in the first three quarters, hardware was mainly exported to Vietnam, India, Russian Federation, United Arab Emirates, Indonesia, Thailand, Singapore, Philippines, Poland and other countries and regions. Their proportion in total export to Belts and Roads countries was 61.98%. Except Singapore had an 8.9% decrease, other 9 countries and regions had a positive development. Vietnam, India and Russian Federation’s export grew faster than all other countries, their grow figures are 15.14%, 10.66% and 24.90%. In hardware export area, 48 out of 64 Belts and Roads countries kept a positive growth in the first three quarters. Laos and Mongolia’s export growth is the fastest, both of them grew over 130%.

As to the import from Belts and Roads countries, it was mainly concentrated in Malaysia, Thailand, Vietnam, Czech Republic, Hungary, India, Poland, Philippines, Singapore, Israel and other countries and regions. They covered 87.89% of the total import from Belts and Roads countries. Besides Thailand, Hungary, Philippines and Singapore, other countries and regions kept a positive development. Malaysia’s growth is the fastest, it reach 44.86%. In the first three quarters, 44 out of 64 Belts and Roads countries keep a positive growth in hardware import. Iraq and Brunei’s import growth is the fastest, both of them grew over 1000%.

From January to September 2017, the most export to Belts and Roads countries with value as a standard are valves, nails, doors and windows accessories, wire fence, tap, shower room, stainless steel cooking utensils, locks, flashlights and other lighting appliances. With quantity as a standard are zippers, lighters, valves, wire fence, nails, flashlights and other lighting appliances, steel pipe connecters, shower room, etc.. The most import from Belts and Roads countries with value as a standard are valves, measuring implements, nails, barber tools, stainless steel vacuum cup and its utensils, locks, steel pipe connecters, shavers etc.. With quantity as a standard are measuring implements, valves, nails, lighters, zippers, wire fences, valve parts, plastic showers and others.

Since 2017, at abroad the global economy moderately growing and the demands of global market is keep reviving, at home on one hand the effect of series promoting stable growth and adjusting structure of foreign trade policies that put forward by the State Council are gradually appeared, on the other hand with the deepening of the supply side structural reform in foreign trade field, a large number of enterprises from the supply side exerting force, adhere to the innovation drive, speed up the power, adjust the structure, focus on cultivating technology, brand, quality, service, standards as the core of the new foreign Trade competition, enterprise innovation and international competitiveness enhancement, product value-added and brand influence further improve. The business environment of new trade development is improving and the export growth rate of cross-border electricity quotient and market purchase is faster than the overall growth rate, and the new impetus cultivation effect is obvious. With all those factors, China’s overall hardware foreign trading is continue stabilized and even grow positive. The hardware bilateral trade with major trading partners such as Asia Pacific, EU, BRICS and the United States continues to rise faster than 10%.

Next, the industry should revolve around the target of Government Work Report, firmly establish and carry out the new development idea, take Belts and Roads Initiative to lead the opening-up, continue to strengthen the cultivation of new foreign trade, strengthen and upgrade the traditional advantages of trade, and actively cultivate the new advantages of foreign trade competition. It is expected that the overall situation of foreign trade in the fourth quarter will continue to be positive.