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Imports from China grew 33.1% in August 2021

Imports from China grew at a year-on-year rate of 33.1% in August, to $ 235.98 billion, reported the General Administration of Customs of that nation.

Behind the United States, China ranked as the second largest importer of products in the world in all of 2020, with 2.06 trillion dollars and a year-on-year drop of 1%, according to data from the World Trade Organization (WTO).

As a result of its internal measures having managed to contain the spread of the Covid-19 pandemic, including the Delta strain, while residents’ incomes have recovered and people’s willingness to consume improved, China managed to rise your incoming shipments of goods.

This country has already accumulated 11 consecutive months of expansion of its foreign purchases.

Imports from China

In general, the Chinese economy differs from the economies of most developed countries in many ways, including government involvement, level of development, growth rate, control of foreign exchange, and resource allocation.

In 2020, despite the outbreak of the pandemic, China’s economy and its major first-tier cities continued to grow. During this period, China’s GDP reached around RMB 101.6 trillion, an increase of 2.3% year-on-year.

At a year-on-year rate, China’s imports advanced 34.8% from January to August 2021, to $ 1.732.65 billion.

Economy

According to the Central Bank of China, in the first quarter of 2021, in that country the achievements to coordinate the containment of the pandemic and economic and social development in all regions and departments of the country were consolidated and expanded.

China’s economy continued to recover steadily and the development momentum grew stronger.

Thus, the national economy got off to a good start as production continued to resume its growth, the three demands, that is, consumption, investment and export, recovered steadily.

According to preliminary statistics, GDP in the first quarter of 2021 grew 18.3% year-on-year and increased 10.3% compared to the same period in 2019. The average growth rate of GDP in the last two years was 5 percent

Exports

Conversely, Chinese exports rose 25.6% year-on-year in August, to $ 294.32 billion.

Cumulatively, in the first eight months of the current year, China’s exports were $ 2.095.140 billion, an increase of 33.7%, year-over-year.

 

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