Change in the Most-Traded Contract for Going Global in April: Export Value of Ships Surged Nearly 80% MoM

Data released by the General Administration of Customs of China today showed that in the first four months of this year, the total value of China's import and export of goods was 14.14 trillion yuan, up 2.4% YoY. Among this, exports amounted to 8.39 trillion yuan, up 7.5% YoY. In terms of exports of key commodities, in the first four months, China exported 5.04 trillion yuan worth of mechanical and electrical products, a 9.5% increase, accounting for 60.1% of China's total export value.

From a monthly perspective, in April, the total value of China's import and export of goods was 3.84 trillion yuan, up 5.6% YoY. Among this, exports were 2.27 trillion yuan, up 9.3% YoY.

After collating the changes in export values of key commodities in April this year, Cailian Press found that:

Priced in US dollars, China's exports of mechanical and electrical products maintained a high growth momentum in April, but the main growth drivers among subcategories shifted. Home appliances and auto parts, which performed well in exports in March, both saw a MoM decline in April. However, integrated circuits and ships once again took the lead in going global.

Specifically, integrated circuits saw export values increase by 20.22% YoY in April, significantly surpassing the 7.88% growth in March.Ships saw export values increase by 36.06% YoY in April, a substantial acceleration from the 1.93% growth in March, and the MoM growth rate in April was nearly 80%.