Lu Ting, chief China economist at Nomura, told CGTN that there are three factors driving China's exports growth in the second quarter (Q2), namely, a catch-up in production and exports delivery to fulfill the backlog built up during Q1, a quick move to contain the coronavirus when other major economies were deeply mired in the pandemic, as well as massive stimulus in the U.S. and other major economies supported demand. China's trade with the Belt and Road countries inched down by 0.9 percent to 4.2 trillion yuan. Foreign trade has greatly benefited from imports, but trade contains both buying and selling, and the performance of export is not enough," said Bai Ming, deputy director of the Academy of International Trade and Economic Cooperation in Ministry of Commerce. Exports in China averaged 682.26 USD HML from 1981 until 2020, reaching an all time high of 2397.58 USD HML in September of 2020 and a record low of 12.50 USD HML in February of 1983. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. In addition, purchases of soybean soared 41% to 8.69 million, due to rising cargoes from Brazil and the US. Imports of crude oil were 47.48 million tonnes in August, down from a record high in July but increased 12.6 percent from a year earlier. In its latest June forecast, the International Monetary Fund predicts China to be one of the few economies achieving positive growth this year. Exports to the United States rose 20 percent to USD 44.8 billion while those to the European Union declined 20.1 percent to USD 35.7 billion. The biggest source of imports was the EU (13 percent of imports) of which Germany (5 percent) and France (2 percent), followed by South Korea, Taiwan, Japan (8 percent each), the US and Australia (6 percent each), Brazil (4 percent), Malaysia, Vietnam, Russia and Saudi Arabia (3 percent each), and Thailand, Singapore and Indonesia (2 percent each). Machinery and transport equipment accounted for 38 percent of total imports on the back of electrical machinery, apparatus and appliances (21 percent), road vehicles (4 percent), telecommunications and sound recording and reproducing apparatus and equipment (3 percent), and office machines and automatic data processing machines (3 percent). Chinese Shares End in the Red on Regulatory Concerns, China Car Sales Rise 12.5% YoY in October, PBoC Injects CNY 150 Billion into Money Market, China Imports Rise Less than Forecast in October, Thailand Consumer Sentiment Strengthens in October. Among major trade partners, imports were down from Australia (-7.2 percent), but increased from Taiwan (16.6 percent), ASEAN (3.1 percent), Japan (5.1 percent), South Korea (4.8 percent) and the US (3.6 percent). China's dollar-denominated exports unexpectedly rose in April, but imports fell the same month as movement restrictions to contain the coronavirus outbreak eased.. Imports to China rose by 4.7 percent year-on-year to USD 178.74 billion in October 2020, after a 13.2 percent surge a month earlier and less than market estimates of a 9.5 percent increase. That was far above the 0.3% predicted by the Reuters’ poll. Among key trade partners, imports rose from the US (24.7 percent), Taiwan (35.8 percent), ASEAN (13.2 percent), South Korea (17.2 percent) and Japan (13.4 percent). Robust shipments of medical supplies and electronic products have supported sales over the past several months while reduced manufacturing capacity in some countries also benefited China. Imports to China unexpectedly fell by 2.1 percent year-on-year to USD 176.3 billion in August of 2020, missing market expectations of a 0.1 percent gain and following a 1.4 percent drop a month earlier. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. In U.S. dollar terms, imports rose by 2.7 percent year on year to 167.2 billion U.S. dollars, bouncing from a 3.3-percent decline in May. This was the second straight month of growth in inbound shipments, as domestic demand recovery from the COVID-19 shocks continued. At the same time, exports were down for major commodities such as refined products, unwrought aluminium and products, steel products, rare earths and grains. "Assuming the pandemic will be gradually contained in the second half, we raise our export growth forecasts to 0.0 percent year on year in both Q3 and Q4 from our previous forecasts of -10.0 percent and -8.0 percent, respectively, said Lu. Purchases from the US went up 2 percent to USD 10.5 billion and those from the European Union plunged 29.7 percent. However, as some countries gradually reopen their economies and start producing PPE domestically for security reasons, China's exports of those products could decline.". The EU and US were the largest destinations of China's shipments, accounting for 17 percent of exports each, followed by Hong Kong (11 percent), Japan (6 percent), South Korea (4 percent), Vietnam (4 percent), Germany (3 percent), India (3 percent) and the Netherlands (3 percent). General trade, which represents a longer production chain and higher added-value as the key indicator of a country's foreign trade competence, decreased by 2.6 percent year on year in H1, accounting for 60.1 percent of the country's total trade, but 0.4 percentage points higher than a year ago. China and the United States should create favorable conditions to implement the phase one trade deal, said Li Kuiwen, GAC spokesperson. Direct access to our calendar releases and historical data. Exports also rose by 0.5 percent to 213.6 billion U.S. dollars, strongly beating expectations and showing signs of recovery, official data showed Tuesday. This was the second straight month of growth in inbound shipments, as domestic demand recovery from the COVID-19 shocks continued. Machinery and transport equipment accounted for 48 percent of total exports, in particular electrical machinery, apparatus and appliances (14 percent), telecommunications and sound recording and reproducing apparatus and equipment (12 percent), office machines and automatic data processing machines (8 percent), and general industrial machinery and equipment, and machine parts (5 percent). Given the impressive resilience in China's exports, Nomura said it has raised its forecast for China's export growth for the second half of this year to 0.0 percent year on year from -9.0 percent. Sales to Japan fell 2.0 percent. Luckily, the epidemic situation in some countries is obviously alleviating, and production and living are gradually getting better," he told CGTN. Exports from China jumped 11.4 percent year-on-year to USD 237.18 billion in October 2020, following a 9.9 percent gain a month earlier and beating market consensus of 9.3 percent growth. Chinese exports have been boosted by record shipments of medical supplies and robust demand for electronic products. The private sector turned the tide, becoming more prominent in promoting the steady growth of foreign trade. Overview: This page contains the latest international trade data for China, including service trade data, and tariffs.In 2018 China was the number 2 economy in the world in terms of GDP (current US$), the number 1 in total exports, the number 2 in total imports, and the number 30 most complex economy according to the Economic Complexity Index (ECI). Beijing ICP prepared NO.16065310-3, China's imports and exports rebound in June as recovery gains momentum. Meanwhile, import volumes of industrial raw materials remained robust, with record imports of iron ore and copper, along with a sharp jump in crude oil. Sales to Japan, however, dropped 2.7 percent. By contrast, China's exports of unwrought aluminum, and aluminum products fell 2% year-on-year to 418,893 tonnes. It was the fastest growth rate in exports since December last year, as global demand improves with more countries lifting COVID-19 related restrictions. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

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