Jiangsu Electromechanical Products Conversely Increase in Exports

Since the beginning of this year, the import and export of Jiangsu's general trade has dropped significantly due to the sharp decline in commodity prices. From January to November, the province's import and export volume totaled 13420.3 billion yuan, a decrease of 3.6%. The import prices of bulk products in the international market fell, and the average import price dropped significantly. For example, the average import price of iron ore decreased by 39.7% year-on-year, soyabeans fell by 25.2%, xylene fell by 33.3%, and ethylene glycol dropped by 13.7%, leading to some bulk products and chemicals. The import value of goods showed a declining trend.

In terms of regions, Jiangsu’s exports to the United States and ASEAN countries showed a particularly bright spot, with exports rising by 4.8% and 3.5%, respectively, and the EU and Japan’s imports and exports decreased significantly.

The export of communications and IT products increased steadily, and the export of motivated electric products was growing in a contrarian direction, bringing a bright light. From January to November, the province exported 35.97 billion yuan, 32.83 billion yuan, and 108.87 billion yuan in mobile phones, tablet computers, and portable computers, respectively, an increase of 37.3%, 11.2%, and 0.7%, driving the overall export of electromechanical products in Jiangsu to rise 1.9%. It reached 1,264.61 billion yuan, accounting for 66.3% of the province's total export value.

Imports of some major commodities also showed signs of improvement. Driven by the global distribution and distribution business of Jiangsu ICs and the higher enthusiasm of companies for the production and preparation of goods in the coming year, Jiangsu's import of integrated circuits was 25.56 billion yuan in November, an increase of 44%, and the contribution rate to the import growth of the province in November was 121.2%. . Based on similar reasons, Jiangsu imported LCD panels for 6.92 billion yuan in November, an increase of 19.9%. In general, the import volume of imported integrated circuits from January to November increased by 5.9%, accounting for 21.4% of the total import value of the province, driving the province's hi-tech product imports to rise by 0.5%.

It is worth noting that as an important export commodity of Jiangsu, this year the ship has been one of the important factors that have driven Jiangsu's exports to a good level. However, in November, Jiangsu’s ship exports plummeted, and the performance of backbone shipbuilding enterprises in the province was not satisfactory. In the same month, only ship exports amounted to 1.8 billion yuan, a year-on-year decrease of 64.9%, a decrease of 36.7% compared with the previous month, and the impact on the decline of Jiangsu’s exports during the month was 616. %.