BEIJING, Nov 9 () – China’s exports in October grew at the fastest pace in 19 months, while imports also rose, official data showed, as the world’s second largest economy continued to recover after the harsh shock From the Coronavirus crisis at the beginning of the year
Exports increased 114% in October compared to the previous year, beating analysts’ expectations of a 93% increase and accelerating after a 99% increase in September
The increase in exports raised the trade surplus for October to 58 dollars to 44 billion dollars, compared to poll forecasts that indicated a surplus of 46 billion dollars and a surplus of 37 billion dollars in September.
China’s trade surplus with the United States widened to $ 31 $ 37 billion in October, up from $ 30 to $ 75 billion in September.
China’s exports have remained largely resilient amid the global COVID-19 pandemic, with robust demand for medical supplies and declining manufacturing capacity elsewhere favoring China
Liu said that China’s exports may remain strong in the remainder of 2020 as domestic companies resume production more quickly than their global competitors and sell more COVID-19 related products such as face masks.
However, some analysts said that exports could come under pressure in the coming months as the major European economies, including France, Germany and the United Kingdom, become confined again to the second wave of coronavirus cases.
Factory activity accelerated at the fastest pace in nearly a decade in October, according to a private survey, although the official survey indicated some slowdown in expansion and increased export orders
Imports rose 47% year-on-year in October, a slower pace than September 13 2% growth, and below poll forecasts of 95% rising, but still falling I have tried for the second consecutive month of growth
China, Export, International Trade, Import
World News – California – Sports: China’s exports and imports grow in October amid the global recovery