The slowdown of China’s economic growth and the transformation of its economic structure will also have a profound impact on the development of global freight insurance. The decline in China’s import and export volume has become one of the main reasons for the decline in global trade volume. China’s mode of relying solely on exports to drive the economy has been changing. At the same time, the slowdown in economic growth has greatly affected the demand for many commodities. The prices of major commodities such as energy, minerals, and crops have fallen to varying degrees. The fall in cargo prices is one of the main factors behind the decline in global freight insurance premium income.

How about the analysis and trend of foreign trade industry 2021 foreign trade industry market development status and prospect analysis

In 2017, the world economy recovered moderately, and the domestic economy was stable and improving, which promoted the continuous growth of my country’s foreign trade import and export throughout the year. According to customs statistics, in 2017, the total value of my country’s import and export of goods trade was 27.79 trillion yuan, an increase of 14.2% over 2016, reversing the previous two consecutive years of decline. Among them, the export was 15.33 trillion yuan, an increase of 10.8%; the import was 12.46 trillion yuan, an increase of 18.7%; the trade surplus was 2.87 trillion yuan, a decrease of 14.2%. The specific circumstances include the following aspects:

1. The value of imports and exports increased quarter by quarter, and the year-on-year growth rate slowed down. In 2017, my country’s import and export value increased quarter by quarter, reaching 6.17 trillion yuan, 6.91 trillion yuan, 7.17 trillion yuan and 7.54 trillion yuan, up 21.3%, 17.2%, 11.9% and 8.6% respectively.

2. The imports and exports to the top three trading partners have grown synchronously, and the import and export growth of some countries along the “Belt and Road” is relatively good. In 2017, my country’s imports and exports to the EU, the United States and ASEAN increased by 15.5%, 15.2% and 16.6% respectively, and the three together accounted for 41.8% of my country’s total imports and exports. During the same period, my country’s imports and exports to Russia, Poland and Kazakhstan increased by 23.9%, 23.4% and 40.7% respectively, all higher than the overall growth rate.

3. The import and export of private enterprises increased, and the proportion increased. In 2017, my country’s private enterprises imported and exported 10.7 trillion yuan, an increase of 15.3%, accounting for 38.5% of my country’s total import and export value, an increase of 0.4 percentage points over 2016. Among them, the export was 7.13 trillion yuan, an increase of 12.3%, accounting for 46.5% of the total export value, and continued to maintain the top position in the export share, an increase of 0.6 percentage points; the import was 3.57 trillion yuan, an increase of 22%.

In the first three quarters of 2017, China’s export of mechanical and electrical products was 6.41 trillion yuan, an increase of 13%, 0.6 percentage points higher than the overall export growth rate, accounting for 57.5% of the total export value. Among them, the exports of automobiles, ships and mobile phones increased by 28.5%, 12.2% and 10.8% respectively. The export of high-tech products was 3.15 trillion yuan, an increase of 13.7%. China has actively expanded imports and optimized its import structure. Imports of high-tech products such as advanced technologies, key components and important equipment have grown rapidly.

In the first three quarters, China’s seven categories of traditional labor-intensive products exported a total of 2.31 trillion yuan, an increase of 9.4%, accounting for 20.7% of the total export value. Among them, exports of toys, plastic products, bags and similar containers increased by 49.2%, 15.2% and 14.7% respectively.

In 2019, my country’s foreign trade import and export reached a new high. In recent years, a series of favorable policies have promoted the development of my country’s foreign trade industry. It is reported that this morning, the State Council Information Office held a press conference, and the General Administration of Customs announced the 2019 my country’s foreign trade import and export related Happening. In 2019, against the backdrop of increasing global economic and trade risks and uncertainties, my country continued to optimize its foreign trade structure and business environment, enterprises innovated and tapped potential diversification markets, and foreign trade continued to maintain a momentum of steady improvement in quality.

It is reported that in 2019, the total value of my country’s foreign trade import and export was 31.54 trillion yuan, a year-on-year increase of 3.4%, of which exports were 17.23 trillion yuan, an increase of 5%, imports were 14.31 trillion yuan, an increase of 1.6%, and a trade surplus of 2.92 trillion yuan. Expanded by 25.4%. The import and export, export and import of the whole year all hit record highs.

There are three main reasons for the steady growth of my country’s foreign trade import and export. First, my country’s economy still maintains the basic trend of stability and good long-term improvement; second, my country’s economy has strong resilience, potential and room for manoeuvre. For example, my country has more than 220 kinds of industrial products, the output ranks first in the world, and domestic industries provide strong support for the development of foreign trade. Third, the effect of the foreign trade stabilization policy continued to be released. The main reason is that a series of policies and measures to stabilize foreign trade, such as streamlining administration and delegating powers, reducing taxes and fees, and continuously optimizing the port environment, have significantly boosted the confidence of the market and enterprises.

In 2019, the development of my country’s foreign trade showed six characteristics: first, the scale of imports and exports increased quarter by quarter; second, the ranking of major trading partners changed, and ASEAN became my country’s second largest trading partner; third, private enterprises surpassed foreign-invested enterprises for the first time and became my country’s largest foreign trade entity; fourth, the structure of trade methods has been further optimized, and the proportion of general trade imports and exports has increased; fifth, the export commodities are mainly mechanical and labor-intensive products, and the proportion of mechanical and electrical products is close to 60%; the sixth is iron ore Imports of commodities such as sand, crude oil, natural gas, and soybeans increased.

The global economic and trade growth rate has slowed down significantly, and the new crown epidemic has hit the global manufacturing industry. From the end of 2019 to the beginning of 2020, the global economy once stabilized and rebounded, but the development of the new crown pneumonia epidemic has caused a huge impact on global economy and trade. The IMF predicts that the global economy will fall into recession in 2020, and the recession will be at least as great as the 2008 financial crisis. even more serious. The World Trade Organization’s Quarterly Global Trade Outlook Index for the first quarter came in at 95.5, down from 96.6 in November 2019. The impact of the epidemic on the global economy is emerging, and almost none of the world’s major economies and major trading countries have been spared.

Global seaborne traffic fell by 25% in the first half of 2020 and is expected to decline by 10% overall for the full year. In the first three quarters of 2020, the container growth rate of major global ports is still in the negative growth range, while the container throughput of Ningbo Zhoushan Port, Guangzhou Port, Qingdao Port and Tianjin Port in China have maintained positive growth trends to varying degrees, reflecting the domestic market. better recovery.

Judging from the changing trend of domestic and foreign trade throughput of domestic ports above designated size in 2020, the domestic trade market of ports was severely affected from January to March, with a minimum drop of more than 10 percentage points, but it gradually recovered from April, mainly with domestic In terms of the port foreign trade market, except for a slight decrease in the throughput scale in March, the rest remained at the level above the same period in 2019, reflecting that the development of China’s port foreign trade market is relatively more stable, mainly It is because the foreign epidemic has not been effectively controlled for a long time, industrial production has been suppressed, and the supply and demand for the external market has gradually increased, thus promoting the development of China’s export market.

With the continuous development of foreign trade, China has become the largest country in terms of port throughput. In 2020, the outbreak of the new crown pneumonia epidemic has brought production to a standstill, the trade volume of various countries has decreased, and the development of the shipping market has been seriously affected. The domestic epidemic has been effectively controlled in a relatively short period of time, the economy has gradually recovered, industrial production has recovered rapidly, domestic products are supplied to the global market, and the demand for export trade has soared. From January to November 2020, the cargo throughput of ports above designated size in my country reached 13.25 billion tons, an increase of 4.18% compared with the same period in 2019.

Affected by the new crown pneumonia epidemic, global merchandise trade will drop by 9.2% in 2020, and the global trade scale will be far lower than before the new crown pneumonia epidemic. Against the background of sluggish global trade, China’s export growth far exceeded expectations. In November 2020, it not only recorded positive growth for 8 consecutive months, but also showed strong resilience, and the growth rate reached the highest level of the year at 14.9%. However, in terms of imports, after the monthly import value hit a record high of 1.4 trillion yuan in September, the growth rate of import value fell back to the negative growth range in November.

It is understood that in 2020, my country’s foreign trade is expected to continue to maintain an overall steady growth trend, and high-quality development will reach a new level. The recovery of the world economy is expected to drive trade growth, and the steady recovery of the domestic economy also provides strong support for the development of foreign trade. But at the same time, we must also see that there are many uncertainties in the changes in the epidemic situation and the external environment, and my country’s foreign trade development still faces difficulties and challenges. . It is believed that with the accelerated formation of a new development pattern with the domestic cycle as the main body and the mutual promotion of domestic and international dual cycles, the continuous advancement of high-level opening to the outside world, and the continuous formation of new international cooperation and new competitive advantages, my country’s foreign trade import and export scale is expected to maintain in 2021. The high-quality development of foreign trade is expected to achieve new results.