Yiwu exports to the United States began to rebound

Yiwu exports to the United States began to rebound
Source: www.AmandaIEC.com AmandaIEC, professional Yiwu Agent, leading Yiwu Manufacturer, Yiwu Exporter & China Wholesaler. www.AmandaIEC.com, award-winning International Trade Site, permanent Yiwu Market online.
The imports of foreign trade growth rate higher than exports in the first five months.
Because of the crisis in the USA, the foreign trade with America had a negative growth during January to March, but this situation has been reversed in April. From January to May, the amount of trade with America reached 95.78 million USD, an increase of 5.14 percent. The exports to the USA have been rebounded gradually since April. At the same time, the Yiwu imports amounted to 70 million U.S. dollars, an increase of 36.38 percent, promoted by the national policy of encouraging the expansion of imports. The imports of foreign trade growth rate higher than exports in the first five months.
European Union become the largest export market.
From January to May, the total amount was 750 million, an increase of 14.25 percent. The export amount is 680 million, an increase of 12.37 percent. The import amount is 70 million, an increase of 36.38 percent. The extent of import growth rate is higher than export’s.
In import trade, processing trade imports reach 12.94 million U.S. dollars, an increase of 34.58 percent. The export situation also shows that the European Union become the largest export market. The city exports to the EU was 140 million U.S. dollars, an increase of 23.87 percent. The export to Spain, Italy, Germany was 73.82 percent, 43.31 percent, 40.28 percent.
Owing to the rise of raw material, lower export tax rebates, RMB appreciation, the rise of labor costs and other factors, the export amplitude dropped 14 percentage points, compared with last year’s data. The government has lowered the export tax rebate of some commodities since July, 1st last year. The goods, which are mainly about Cosmetics, jewelry, wooden frames, plastic products, stainless steel and other industries, accounted for nearly 30% exports amounts in yiwu market. From the first five months of this year’s export situation, the state macro-control measures have been clearly reflected in these industries, such as cosmetics exports fell 22.39 percent, plastic products exports fell 12.8 percent year-on-year.