Chinese exports dip 6.8% in early 2023; imports down 10.2%
Mar, 07, 2023 Posted by Gabriel MalheirosWeek 202312
Chinese exports continue on a declining trend in the first two months of 2023, showed official data on Tuesday, March 7, as global demand for goods produced in the country shows little signs of a rebound.
In the first two months of the year, remittances abroad fell 6.8% year-on-year compared with a 9.9% drop in December, according to General Administration of Customs data. The result was better than the drop of 9.0% expected by economists consulted by “The Wall Street Journal.”
The Chinese Customs authority released combined data for January and February to eliminate distortions caused by the Lunar New Year holiday in January this year.
Imports from China fell 10.2% in the period, compared to a drop of 7.5% in December and a decline estimated by economists at 5.1%.
The trade surplus for the first two months combined was $116.88 billion, compared with December’s $78.01 billion and the $84 billion expected by economists.
In terms of yuan, China’s exports increased by 0.9%, and imports decreased by 2.9% annually, resulting in a trade surplus of 810.32 billion yuan in the first two months of the year.
Source: Valor Econômico
To read the original news report, please see: https://valor.globo.com/mundo/noticia/2023/03/07/exportacoes-da-china-recuam-68percent-no-1o-bimestre-importacoes-caem-102percent.ghtml
-
Ports and Terminals
Mar, 20, 2024
0
Vila Velha Port Terminal invests R$42 mln in remotely operated gantry cranes
-
Trade Regulations
Sep, 25, 2023
0
EU’s Border Carbon Adjustment Mechanism (CBAM) effects on global trade
-
Ports and Terminals
Jun, 06, 2023
0
Massive investment of BRL 315 million planned for Itajaí’s liquid bulk terminal
-
Shipping
Mar, 25, 2024
0
Norcoast eyes strengthening cabotage in Brazil