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Chinese exports likely fell 4.8% on year in January, while imports may have dropped 6.5%, according to the median forecasts of 14 economists polled by The Wall Street Journal. The holiday, as well as quarantine and containment measures, shut down much of the economy for weeks, disrupting travel, production and transport, and the economy is still “It’s hard to forecast the trend based on January-February data because these two months are quite special, but given that the coronavirus is now spreading across the world, March data won’t look so good either,” according to Larry Hu, chief China economist at The outlook for trade will hinge on China’s progress in getting its economy restarted and exports should rebound to growth in the coming months as exporters start delivering existing orders. “The reason that imports were better than exports overall is that the main problems for China are on the production side.”It’s hard to forecast whether that will continue to be the case as external demand could also decline due to the spreading outbreak, even if China’s production ability recovers, according to Zhou.The contraction in trade in the first two months was mainly due to the virus outbreak and the extended lunar new year holiday, and the impact on imports is not yet significant, according to a statement on the customs administration’s website.Almost 81% of 2,552 companies involved in trade have resumed operations, according to a customs administration survey. Month Exports Imports Balance; January 2020 : 7,215.3 : 33,280.6 -26,065.3 : February 2020 : 6,815.0 : 22,813.1 -15,998.1 : March 2020 : 7,971.9 There were no more details on that, but other reports have shown that even if companies have returned to work, their capacity hasn’t returned to the level it was before the extended holiday and disease outbreak.This was the first time that customs has combined the data for the first two months of the year, and not released figures just for January. Change in monthly exports in China June 2020 Value of basic metal and its products exported from Taiwan 2011-2019 Value of animal and vegetable oils and fat exports from Taiwan 2011-2019 Exports declined by three percent year on year to 7.71 trillion yuan, … By using this site you agree to the In yuan terms, China's goods trade in the first half of 2020 contracted by 3.2 percent year on year to 14.24 trillion yuan, narrowing by 1.7 percentage points from the January-May period. Among key trade partners, exports advanced to Japan (33.0 percent), Australia (31.9 percent), Taiwan (20.7 percent), South Korea (8.4 percent), ASEAN … China's trade surplus widened sharply to USD 62.93 billion in May 2020 from USD 41.20 billion in the same month the previous year and far above market expectations of a USD 39 billion surplus. China’s exports fell more than expected in the first two months of this year as the coronavirus outbreak led to extended holidays, depressed … There was an increase in sales of medical equipment, traditional Chinese medicine and textiles, which include masks. Imports also declined, although increases in commodities purchases offset some of that.The drop in exports was a bigger-than-expected 17.2% in dollar terms, while imports declined 4%, according to a The first two months are normally volatile for China’s economic activity due to a week-long lunar new year holiday, and this year is more unusual due to the coronavirus epidemic. Trade surplus with the U.S. shrinks 40% from same time in 2019 China's government reported Tuesday, April 14, 2020 that exports fell further in March compared with February amid a global economic slowdown caused by the coronavirus pandemic. China’s exports fell more than expected in the first two months of this year as the coronavirus outbreak led to extended holidays, depressed factory output, and blocked transport and movement across the country. The economists also predict the trade surplus to stand at $40 billion.Almost 800,000 people around the world have already died from COVID-19, according to the latest tally from Johns Hopkins University and Microsoft co-founder Bill Gates predicts “the worst is still ahead.” China agreed to increase its imports of U.S. goods and services by $76.7 billion over the level in 2017 in the first year of the deal, and then by $123.3 billion in the second year, increasing imports by a total $200 billion.“The growth in imports from the U.S. is pushed by the phase-one deal,” according to Zhou Hao, an economist at Commerzbank AG in Singapore. It was the largest trade surplus since the series began in January 1981, as exports dropped less imports, amid growing tensions with the US.
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