Not just another trade surplus, BUT a RECORD TRADE SURPLUS during a pandemic.
China’s trade surplus widened to a record in November, as global demand for the country’s goods grew even more robust.From Fox Business:
November exports were up 21% from a year earlier, the General Administration of Customs reported Monday, accelerating from October’s 11.4% and beating economists’ 12% forecast. Imports were up 4.5%, slowing slightly from October’s 4.7% and short of the 5.3% expected by economists. The resulting $75.42 billion trade surplus topped the record set in May, when a drop in imports was the major factor.
China’s exports have topped market expectations since the second quarter, when Beijing moved to restart the world’s second-largest economy after lockdowns and Covid-19 outbreaks at the start of the year. During the pandemic, protective gear and work-from-home tech products have served as pillars for China’s overseas trade, helping it gain global market share.
China’s exports rose at the fastest pace since February 2018 in November, helped by strong global demand and as the factory recovery from the coronavirus in the world’s second-largest economy outpaced those of its major trading partners.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.