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China’s exports increased in August while imports were barely up.
During the month of August, Chinese exports grew by 9.5%.
It is the first country affected by Covid-19, but also the first to recover.
China appears as a barometer of the expected recovery of the world economy.
That said, imports fell by 2.1% year-on-year, according to data released Monday by Chinese Customs.
This figure, much worse than expected by analysts (+0.5%), is synonymous with weak demand in the Chinese domestic market.
It should be noted that in the previous month, imports were expected to rise slightly by 0.1% after a 1.4% decline.
For while activity in the country has largely recovered, entire sectors of the economy are still slowing down, particularly transport and tourism.
For their part, the country’s exports reached in August their highest level in eight months. And it is a result much higher than the previous year, according to analysts surveyed by the financial agency Bloomberg (+7.5%).
In addition, according to customs data, China’s trade surplus in August amounted to $58.93 billion compared to $62.33 billion in July.
While economists anticipated an average of 50.50 billion dollars.
In recent months, the need for medical products had largely supported Chinese exports.
While China remains the world’s leading supplier of Covid-19 protection, foreign demand has been reduced by relatively improved health conditions.
Some countries now prefer to produce locally to reduce their dependence on the Asian giant.
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Headline photo: © Wikipedia[/vc_column_text][/vc_column][/vc_row]
