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International trade: China’s exports rise 27.9%

China‘s international trade in products totaled 482.31 billion dollars in May, a year-on-year growth of 37.4%, the Customs Administration of that country reported.

With this, in cumulative form, China’s international trade totaled 2 trillion 271,750 million dollars, an advance of 38.1 percent.

In China, real GDP grew 18.3%, year-on-year, in the first quarter of 2021.

The extraordinary year-on-year increase in GDP is due, in large part, to base effects; but it confirms the solid recovery of the economy after the Covid-19 pandemic.

At the sectoral level, according to the Central Bank of Europe, the secondary sector outperformed the rest of the economy, in a context of intense demand for exports, while the data on retail sales for March, published together with the relative to GDP, they point to the strengthening of the recovery of consumption.

At a month-on-month rate, China’s international trade contracted 0.6 percent.

Across the world, economic recovery has advanced at different speeds in different countries, and China – the first country to control the virus – had already returned to its pre-crisis level in June 2020.

International Trade

On the side of China’s merchandise exports, these were worth 263.92 billion dollars in May, an increase of 27.9% at the annual rate.

Conversely, Chinese imports soared 51.1% in the same month, to $ 218.38 billion.

Thus, China posted a surplus of $ 45.54 billion in the fifth month of the year.

Recently, the world has seen a recovery in demand and commodity prices have risen, while China’s currency appreciated against the US dollar.

From January to May 2021, foreign sales of Chinese products rose 40.2%, to $ 1.27.6 billion.

Meanwhile, Chinese imports climbed 45.6% during that period, to 1 trillion, 034150 million dollars.

 

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