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China Has Become The Largest Import Source Country Of UK For The First Time, And The Textile Industry Has Increased Significantly!

2020/12/15 16:28:00 25

In 2020, under the influence of the new pneumonia epidemic, the economy of most countries in the world has experienced a serious decline, and the trade between countries has also been greatly reduced. A few days ago, according to the latest data, China has become the largest source of British imports for the first time. What is the specific situation?

According to British media reports, during the worst period of the new crown epidemic in the second quarter of this year, Britain imported more from China than any other country for the first time.

It is reported that in the second quarter of this year, 1 pound of every 7 pounds of goods imported from the UK came from China. Chinese companies exported 11 billion worth of goods to the UK, including textiles, including medical masks used in the NHS and home computers used in remote offices.

China was once Britain's second largest source of imports after Germany. China's average annual sales of goods to the UK are 45 billion pounds, compared with 65 billion pounds in Germany. But the share of imports from countries such as Germany fell in the second quarter, while China grew. Electronic technology equipment accounted for the largest proportion of UK imports from China, reaching 35.2%, with a total value of 3.9 billion pounds.

For the first time, China has become the largest source of UK imports for the following three reasons:

First, China's epidemic prevention and control has begun to achieve remarkable results in the second quarter, and at this time, the outbreak of the European multi-national epidemic began to ravage, the outbreak of the European multinational industry chain and supply chain were impacted. During this period, Germany and other major British trading partners took measures to prevent the epidemic situation, which affected trade exchanges to a certain extent.

Ons also pointed out that the biggest drop in UK cargo import and export in the second quarter was mechanical transport equipment and fuel, which was related to the sharp drop in demand for road vehicles and oil caused by the epidemic. Data show that the UK road vehicle exports and imports fell sharply in the second quarter. Production of transport equipment by Britain's biggest partners in the EU, such as Germany, has also declined.

Second, China has the production advantage of the whole industrial chain, which other countries do not have. According to the statistics of the United Nations, China is the only country in the world with all the industrial categories in the United Nations Industrial Classification. Compared with other countries, China's advantages in the whole industrial chain can help China to return to work and production quickly.

Bai Ming, deputy director of the International Market Research Institute of the Ministry of Commerce, said that the rise of "housing economy" during the epidemic period created favorable conditions for the UK to import electronic equipment from China in the second quarter. China's medical masks, mobile phones, computers and other products have played an important role in fighting the epidemic and restoring the economy in the UK.

The third is the influence of brexit. Chen Fengying, a researcher at the China Institute of modern international relations, pointed out that at present, Britain is still negotiating with the European Union on matters related to "brexit". The news of "brexit" has, to a certain extent, affected the trade exchanges between Britain and Europe and other traditional trade partners.

"Brexit" negotiation means that the supply chain and industrial chain will be readjusted within the UK and EU in the short term, which also makes Britain urgently need to expand its import sources from other countries. ‍

China and Britain have a very close relationship in import and export trade. After the United Kingdom and the United Kingdom, ons ranked third in exports in 2019.