China’s exports set a new record

On January 14, the General Administration of Customs of China released data showing that in 2021, China’s total import and export value of goods trade was 32.16 trillion yuan, an increase of 1.9% over 2019, of which, the export was 17.93 trillion yuan, an increase of 4%; Imports were 14.23 trillion yuan, down 0.7%; The trade surplus was 3.7 trillion yuan, up 27.4%, and the status of the first largest country in goods trade was further consolidated.

In 2021, under the impact of COVID-19, the global economy and trade were not only the 1 major economies in the world to achieve economic growth, but also the scale of China’s foreign trade was higher. China’s foreign trade scale is more innovative, largely because China has played a role of “the largest supplier of anti epidemic materials in the world”. China has actively participated in the prevention and control of epidemic situation abroad while preventing and controlling domestic epidemic. According to the customs statistics, China’s exports of textiles, medical devices and drugs, including masks, increased by 31% in 2021, and the overall export increased by 1.9 percentage points; From March to the end of 2021, China exported 224.2 billion masks, and exported 2.31 billion protective clothing, 289million goggles, 271000 ventilators and 1.08 billion people of new crown virus detection kit, which provided great help for international epidemic prevention. In addition, affected by the epidemic, home office led to the huge demand of notebook, mobile phone and other mechanical and electrical products.

However, the situation of “one scenery is only good” in China’s foreign trade does not mean “perfect”. Not all products of China’s foreign trade have been growing rapidly, and some of them have experienced a large-scale decline, which includes semiconductor industry which has always made high profits in the world. It is understood that, Due to the upgrading of the US policy of pressure on China and the imbalance of market supply and demand relationship under the influence of epidemic situation, the output value of semiconductor industry in China will continue to decrease by about 13% in 2021, which is the biggest decline in history.

LED, as a part of semiconductor industry, will also have a decline in exports in 2021. According to the statistics of customs, the total export trade of display boards with liquid crystal devices or light-emitting diodes in 2019 is 6.945 billion yuan, while that of display boards with liquid crystal devices or light-emitting diodes in 2021 (January to November) will be 5.614 billion yuan, down nearly 20%. According to relevant statistics, the overseas market of LED display industry accounts for about 20.6% in 2021, which is 17.5% lower than that in 2019; The annual output value of LED display industry in China has decreased by about 18%, and the total output value has fallen to 35.5 billion yuan. From the data analysis, the annual output value of LED display is greatly reduced due to the shrinking of overseas market.

Post time: May-11-2021