In March, China’s foreign trade first deficit plastic imports increased steadily
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However, due to strong domestic demand, the import volume and price of raw materials such as oil both rose strongly, and the domestic consumption structure upgrade led to a sharp increase in imports of automobile products. In March, China’s import growth rate was 41.7 percentage points higher than that of the same period in March. In the month, China’s total import and export value was US$231.46 billion, an increase of 42.8%. The trade deficit of the month was US$7.24 billion, which suspended China’s trade surplus for 70 consecutive months since May 2004. The deficit mainly came from Taiwan, Japan and South Korea. The countries and regions have a scale of 7.9 billion, 6.53 billion and 6.13 billion US dollars respectively.
In terms of plastic raw materials and products, the primary shape of plastics imported 2.44 million tons in March, totaling 4.31 billion US dollars. In the first quarter, the cumulative imports were 6.15 million tons, totaling 10.48 billion US dollars, up 6.7% and 36.6% respectively. In March, the export of plastic products was 525,000 tons, totaling 1.23 billion US dollars. In the first quarter, the total exports were 1.571 million tons, totaling 3.72 billion US dollars, up 11.6% and 22.4% respectively.