From January to February, the export value of furniture and parts reached 71.78 billion yuan, down 14.5% year-on-year.
On March 7, data released by the General Administration of Customs showed that in the first two months of this year, China's total import and export value of goods trade was 6.54 trillion yuan, a year-on-year decrease of 1.2%. Exports amounted to 3.88 trillion yuan, up 3.4% year-on-year, while imports totaled 2.66 trillion yuan, down 7.3% year-on-year. Exports to Belt and Road partner countries grew by 2.4%.
From January to February, the export value of furniture and parts was 71.78 billion yuan, a year-on-year decline of 14.5%. The slowdown in export growth during this period was mainly attributed to two factors. First, the high base from the same period last year, coupled with fewer working days this year. Second, the impact of U.S. tariff hikes on Chinese goods, particularly on lower value-added products like furniture, where the relative increase in tariff rates was more pronounced, leading to a greater negative effect on exports. (Source: General Administration of Customs of China)
