China's exports to the U.S. and Southeast Asian countries fell sharply in May.
China's exports to the U.S. fell by 18% from a year ago in U.S. dollar terms in May. That's according to official figures accessed through Wind Information. Exports to Southeast Asia also fell.
BEIJING — China can't easily rely on its neighbors as export markets in a global slowdown, the latest trade data show.. The 10-member bloc surpassed the European Union during the pandemic to become China's largest trading partner on a regional basis.China's overall exportsExports to the U.S. — China's largest trading partner on a single-country basis — fell by 18% from a year ago in U.S. dollar terms in May.
The U.S. is one single market versus a grouping of 10 countries, Pang pointed out, adding that companies can also sell at higher profit margins in the U.S. market.Exports still account for about 18% of the economy, although that's well below the roughly 30% share it once had, Tao Wang, head of Asia economics and chief China economist at UBS Investment Bank, told reporters Monday.Slowing global growth, especially in the U.S.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
China trade tumbles in May, adding to signs economic recovery is slowingChina’s exports fell 7.5% from a year earlier in May and imports were down 4.5%, adding to signs an economic recovery is slowing. Customs data show exports slid to $283.5 billion, reversing from April’s unexpectedly strong 8.5% growth. Imports fell to $217.7 billion, moderating from the previous month’s 7.9% contraction. Trade weakness adds to signs of a slowing of China’s rebound following the December lifting of anti-virus controls that disrupted travel and commerce. Retail spending is lower than expected as consumers worry about the economic outlook and possible job losses. Manufacturing activity has been contracting as interest rate hikes in the United States and Europe chill demand for exports.
Weiterlesen »
China's exports tumble in May as global demand falters | CNN BusinessChina’s exports shrank much faster than expected in May and imports fell, albeit at a slower pace, as manufacturers struggled to find demand abroad and domestic consumption remained sluggish.
Weiterlesen »
China: Discouraging prints from exports in May – UOBEconomist at UOB Group Ho Woei Chen, CFA, comments on the recent trade balance figures in the Chinese economy. Key Takeaways China’s exports and impor
Weiterlesen »
Oil higher as China crude imports rise; traders await inventory dataOil futures rise early Wednesday, buoyed by data showing China's crude imports rose in May.
Weiterlesen »