Post by account_disabled on Mar 9, 2024 1:43:37 GMT -5
China's trade continued its recent decline at the beginning of the year, highlighting the challenges facing the Asian giant as it struggles to lift its economy after health restrictions.
Exports fell 6.8% from a year earlier to $506.3 billion in total for the first two months of 2023, according to data released by China Customs on Tuesday.
Meanwhile, imports also continued their downward trend in January and February, falling 10.2% from a year earlier to $389.42 billion.
With these figures in the foreign Ecuador Mobile Number List sector, whose trend may continue for the rest of the year, it is likely that this will be a drag on economic growth. The data is the first major economic indicator released since China completely relaxed its zero-Covid policy and restarted its economy at the beginning of the year.
China's monthly exports have seen negative growth since October amid weakening global demand and may worsen as the effect of easing restrictions imposed to quell the pandemic fades. Furthermore, if the feared global recession is confirmed, Chinese exports should become even more depressed.
Among all products, semiconductor import volumes saw the biggest drop, at 45.1%, while integrated circuits also fell 26.5%.
However, according to the Chinese government through a report issued by the National Development and Reform Commission (NDRC) on Sunday, export growth is hampered by increased protectionism, slowing trade world and increased competition.
Beijing is clearly aware of the challenge the economy faces from weak global demand and the risk of supply chains shifting out of China, Zhang said.
Also on Tuesday, Foreign Minister Qin Gang highlighted China's trade with Russia and said it should use a currency that is "secure and reliable," threatening the dollar's supremacy, increasing the geopolitical risks it faces. moves world trade this year.
Trade between the two countries reached record levels last year following the outbreak of war in Ukraine, with the latest data confirming that China's exports to Russia rose 19.8% year-on-year in the first two months of 2023, while imports increased by 31.3%.
Also in the first two months, trade with the European Union and the United States continued to decline sharply. Exports to the European Union fell 12.2% year-on-year, while imports contracted 5.5%, Customs data showed.
Shipments to the US fell 21.8% compared to the same period last year, while US imports fell 5%.
On the other hand, exports to the Association of Southeast Asian Nations, China's largest trading partner, increased by 9%, while imports contracted by 8.3%.
Exports fell 6.8% from a year earlier to $506.3 billion in total for the first two months of 2023, according to data released by China Customs on Tuesday.
Meanwhile, imports also continued their downward trend in January and February, falling 10.2% from a year earlier to $389.42 billion.
With these figures in the foreign Ecuador Mobile Number List sector, whose trend may continue for the rest of the year, it is likely that this will be a drag on economic growth. The data is the first major economic indicator released since China completely relaxed its zero-Covid policy and restarted its economy at the beginning of the year.
China's monthly exports have seen negative growth since October amid weakening global demand and may worsen as the effect of easing restrictions imposed to quell the pandemic fades. Furthermore, if the feared global recession is confirmed, Chinese exports should become even more depressed.
Among all products, semiconductor import volumes saw the biggest drop, at 45.1%, while integrated circuits also fell 26.5%.
However, according to the Chinese government through a report issued by the National Development and Reform Commission (NDRC) on Sunday, export growth is hampered by increased protectionism, slowing trade world and increased competition.
Beijing is clearly aware of the challenge the economy faces from weak global demand and the risk of supply chains shifting out of China, Zhang said.
Also on Tuesday, Foreign Minister Qin Gang highlighted China's trade with Russia and said it should use a currency that is "secure and reliable," threatening the dollar's supremacy, increasing the geopolitical risks it faces. moves world trade this year.
Trade between the two countries reached record levels last year following the outbreak of war in Ukraine, with the latest data confirming that China's exports to Russia rose 19.8% year-on-year in the first two months of 2023, while imports increased by 31.3%.
Also in the first two months, trade with the European Union and the United States continued to decline sharply. Exports to the European Union fell 12.2% year-on-year, while imports contracted 5.5%, Customs data showed.
Shipments to the US fell 21.8% compared to the same period last year, while US imports fell 5%.
On the other hand, exports to the Association of Southeast Asian Nations, China's largest trading partner, increased by 9%, while imports contracted by 8.3%.