. Earth Science News .
TRADE WARS
China's exports top forecasts, imports growth best in 10 years
by AFP Staff Writers
Beijing (AFP) May 7, 2021

Chinese exports grew at a forecast-busting rate last month, data showed Friday, while imports surged at their strongest in a decade as the global economy bounces back from the pandemic crisis and domestic consumption recovers.

With vaccines being rolled out around the world -- particularly in the key US market -- and economically painful lockdowns being eased, demand for China's goods has picked up this year, having fallen off a cliff in 2020.

Shipments abroad soared 32.3 percent on-year in April -- smashing the 24.1 percent expected in a Bloomberg survey -- thanks to a sharp rise in demand for electronics and medical masks.

The impressive figures are attributable to last year's very low base of comparison owing to the pandemic.

But they still show that the global recovery is underway, led by the United States where the economy is scorching along on the back of vast government spending and central bank largesse.

"The stimulus in developed economies, especially in the US, sustained their demand for Chinese manufactured products," Nomura chief China economist Lu Ting told AFP.

He added that the worsening Covid-19 outbreak in emerging markets including India also supported Chinese exports, in part because they then rely on China to supply protective gear.

At home, with the coronavirus largely brought under control, China's vast army of consumers are getting back to their daily lives after last year's travails, sending imports up 43.1 percent, slightly below forecast but the best rise since early 2011.

The jump was also fired by a surge in commodity prices -- iron ore is at a record and copper close to one -- electronics and integrated circuits, which are then mostly turned around before being shipped abroad.

The strong figures will provide cheer to China's leaders who are looking to recalibrate the economy from state investment and exports-led growth to one more reliant on domestic consumer demand.

But Lu warned of the surging prices of imported commodities noting it "will both trigger higher inflation and depress domestic demand".

Rajiv Biswas, Asia Pacific chief economist at IHS Markit, added that factors such as rising container freight shipping costs, on top of global semiconductor shortages, had "added to China's import bill".

In April, China's trade surplus with the US -- a key point of contention during their bruising trade war -- rose 23 percent to $28.1 billion.


Related Links
Global Trade News


Thanks for being here;
We need your help. The Space Media Network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceMediaNetwork Contributor
$5 Billed Once


credit card or paypal
SpaceMediaNetwork Monthly Supporter
$5 Billed Monthly


paypal only


TRADE WARS
China suspends economic accord with Australia
Beijing (AFP) May 6, 2021
China said on Thursday it had suspended an economic agreement with Australia, in an apparent tit-for-tat response to Canberra's scrapping of a Belt and Road infrastructure pact and threat to undo a deal leasing Darwin Port to a Chinese company. Relations between the two sides have collapsed into acrimony after Canberra called for an independent probe into the origins of the coronavirus pandemic and banned telecoms giant Huawei from building Australia's 5G network. China - Australia's biggest tr ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Over 600 Europe-bound migrants returned to Libya: navy

Utah's new concealed carry law won't apply at Hill AFB, Air Force says

Humanity taking 'colossal risk' with our future: Nobels

Fires a chronic threat to Iraqi lives, property

TRADE WARS
US not planning to shoot down errant Chinese rocket: defense chief

GMV supplies a Galileo 2nd gen radio frequency constellation simulator

China's Long March-5B rocket booster set for uncontrolled reentry

Fortnite maker girds for epic court clash with Apple

TRADE WARS
Breakthrough technology introduced to combat growing global water crisis

1.5C warming cap could 'halve' sea level rise from melting ice

UK sends Navy ships to Jersey as French fishing row escalates

Red Sea corals to persist, even as other corals succumb to global warming

TRADE WARS
Glacier avalanches more common than thought

Icebreaker's cyclone encounter reveals faster sea ice decline

Global glacier retreat has accelerated

Cave deposits show surprising shift in permafrost over the last 400,000 years

TRADE WARS
Climate to ravage Kenya's tea production

RIT researchers using drones and artificial intelligence to help assess crop growth

Illinois, Nebraska scientists propose improvements to precision crop irrigation

In London, rail-side gardening blossoms during pandemic

TRADE WARS
Thousands of families hit by Yemen floods: UN

4 killed in flash floods in Yemen's historic Tarim city

Humanity does not have effective tools to resist the tsunami

Stanford researchers reveal that homes in floodplains are overvalued by nearly $44 billion

TRADE WARS
'It's all we have': the plight of S.Africa's informal miners

Nigeria army dismisses suggestions of takeover from Buhari

Nigeria jihadists attack two army bases, 8 killed

French prosecutors request judges drop case over Rwanda massacre

TRADE WARS
Dunbar's number debunked: You can have more than 150 friends

Circadian rhythm-controlling 'clock genes' could be tweaked to alter sleep

Prehistoric humans first traversed Australia by 'superhighways'

Model shows first Australians travelled on 'superhighways'









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.