Chinese exports and imports exceed expectations
Is it still going well with the Chinese economy? On Thursday, the Chinese government published a report showing that import and export far exceed the expectations. There is even a trade surplus with the United States of $ 31.78 billion.
According to Reuters, China recorded a trade surplus of $ 31.78 billion with the US in October, coming from $ 34.13 billion in September. The cumulative trade surplus of the country with the US in the first 10 months of the year was $ 258.15 billion, Reuters reported.
The overall trade surplus of China was $ 34.01 billion in October, below the 35 billion that economists had expected. Exports rose 15.6 percent from a year ago in October, exceeding a projected 11 percent growth forecast by Reuters economists. Exports in September grew 14.5 percent year-on-year.
In the meantime, imports rose by 21.4 percent compared to a year ago, far more than the predicted 14 percent. Imports in September grew 14.3 percent year-on-year. Economic data from China is being closely monitored during the bitter trade dispute between the world's largest economies, with US President Donald Trump calling into question the problem of his massive trade deficit towards China.
Measures
- These economic data show that China is in danger despite the trade dispute with the United States of America. Many economists say that this phenomenon is mainly due to exporters who benefit from increased orders before the tariffs, but the figures are likely to be less good in the coming months than is currently the case.
- In addition, the weak yuan also has a major impact on the Chinese economy. Trading with China is much cheaper for other countries and that undoubtedly has a positive effect on export figures. Moreover, the Chinese government does not sit still in this difficult period, because various measures are being taken to support the economy.
Sources: CNBC