China's export value decreased for the first time in two months – Is a drop in demand from Europe and the US a main factor?

Recently NHK News On-line reported the following:

中国の輸出額2か月ぶりに減少 欧米の需要落ち込みが主な要因か

2020年6月7日 15時08分

 中国の先月の輸出額は、去年の同じ月に比べて3％余り減少し、2か月ぶりにマイナスとなりました。新型コロナウイルスの世界的な感染拡大の影響で、主な輸出先であるアメリカやヨーロッパなどの需要が落ち込んだことなどが主な要因とみられています。

 中国の税関当局が7日発表した先月の貿易統計によりますと、中国の輸出と輸入を合わせた貿易総額は3507億ドルと、去年の同じ月に比べて9.3％減少しました。

 このうち輸出額は2068億1000万ドルで3.3％減りました。

 中国の輸出額は、感染拡大の影響で中国国内の企業活動が停滞しことし1月以降大きく落ち込みましたが、国内の企業活動が回復に向かい、4月にはいったん増加に転じました。

 輸出額が減少に転じたのは、世界的な感染拡大の影響で主な輸出先であるアメリカやヨーロッパなどの需要が落ち込んだことなどが主な要因とみられていて、こうした状況が続けば、中国の景気回復を遅らせる懸念があるとも指摘されています。

 一方、輸入額は1438億9000万ドルと、去年の同じ月を16.7％下回りました。

 原油などの輸入価格が下落したことや、中国国内の需要がふるわなかったことなどによるとみられています。

 また、貿易問題で対立するアメリカからの輸入額をみますと、ことし1月から先月までの累計が去年の同じ時期を7.6％下回りました。

 トランプ大統領は、中国のアメリカからの輸入が増えないことに強い不満を示しており、貿易問題をめぐる米中両国の関係が一層悪化することも懸念されます。

Translation

China's last month's exports fell by more than 3% from the same month last year, the first negative figure in two months. Due to the spread of the new type of coronavirus worldwide, it was believed that the main reason for this was a drop in demand from major export destinations such as the United States and Europe.

According to last month's trade statistics as released by China's customs officials on the 7th, China's combined exports and imports totaled $350.7 billion, a 9.3% decrease over the same month last year.

Of this amount, exports amounted to 206.81 billion dollars, a decrease of 3.3%.

The amount of Chinese exports dropped sharply from January due to the stagnation of corporate activity in China caused by the spread of infections, but domestic corporate activity began to recover and had once increased in April.

The main reason for the decline in exports was that demand from major export destinations such as the United States and Europe fell due to the spread of global infections. It had also been pointed out that if this situation continued, there was concern that it might delay the economic recovery in China.

On the other hand, the import value was 143,890 million dollars, which was 16.7% lower than the same month last year.

It was believed that this was due to the fact that import prices of crude oil and other products had fallen; and that domestic demands had not flourished.

Also, when looking at the value of imports from the United States which was having conflicts over trade matters, the cumulative total from January to last month fell 7.6% from the same period last year.

President Trump had been very dissatisfied with the fact that China's imports from the United States could not increase, and there was concern that the relationship between the United States and China over the trade issue could worsen.

              So, the trading relation between the US and China is far from smooth. It seems that global trading will take some time to recover from the impact of the new virus.