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Chinese Imports Revived In September
Chinese imports revived in September and rose the steepest this year. Exports also continued to grow for the fourth month in a row.
Yazar: Tom Roberts
Yayınlanma: 14 Ekim 2020 01:47
Güncellenme: 18 Aralık 2024 23:38
Chinese Imports Revived In September
Chinese imports revived in September and rose the steepest this year. Exports also continued to grow for the fourth month in a row, as other trading partners lifted restrictions on the new coronavirus pandemic, supporting the world's second-largest economy. According to official data from the customs office, Chinese imports increased by 13.2 percent year on year in September after a decline of 2.1 percent in August. Analysts expected it to rise by only 0.3 percent. And exports increased during the period under review, by 9.9 percent, which is an acceleration compared to August, when they increased by 9.5 percent. At the same time, economists expected weaker import results due to uncertainty about coronavirus and geopolitical tensions. But it seems that companies in China tried to buy technology products from the US before the likely imposition of restrictions. And continued solid export growth suggests that Chinese exporters are recovering from a pandemic due to the "reboot" of the global economy, with Chinese companies rushing to gain more share of foreign markets while their rivals struggle with reduced production capacity. However, some analysts warn that exports could weaken as demand for protective equipment from China falls. Import growth pushed China's trade surplus in September to $ 37 billion (€ 31.36 billion) from $ 58.93 billion in August and below the estimated $ 58 billion. Economists expect tensions between the United States and China to escalate ahead of the US presidential election. China continues to lag behind in its promise to increase purchases of US goods under the first phase of a trade agreement earlier this year. China's politically sensitive trade surplus with the United States fell to $ 30.75 billion in September from $ 34.24 billion in August. In August, top US and Chinese trade officials confirmed by telephone that they wanted to continue implementing the agreement. Earlier this month, however, US Secretary of Agriculture Sonny Perdue questioned the likelihood that China would meet its commitment to buy agricultural products from the United States.İLGİLİ HABERLER
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