Sunday, June 1, 2025
News PouroverAI
Visit PourOver.AI
No Result
View All Result
  • Home
  • AI Tech
  • Business
  • Blockchain
  • Data Science & ML
  • Cloud & Programming
  • Automation
  • Front-Tech
  • Marketing
  • Home
  • AI Tech
  • Business
  • Blockchain
  • Data Science & ML
  • Cloud & Programming
  • Automation
  • Front-Tech
  • Marketing
News PouroverAI
No Result
View All Result

Exports and imports fall in September

October 13, 2023
in Business
Reading Time: 3 mins read
0 0
A A
0
Share on FacebookShare on Twitter


An aerial view of a container ship leaving the dockyard in Qingdao in east China’s Shandong province.

Future Publishing | Future Publishing | Getty Images

BEIJING — China reported a smaller-than-expected decline in exports in September from a year ago, while imports missed, according to customs data released Friday.

In U.S.-dollar terms, exports fell by 6.2% last month from a year ago. That’s less than the 7.6% drop forecast by analysts in a Reuters poll.

Imports also fell by 6.2% in U.S.-dollar terms in September compared to a year ago — slightly more than the 6% decline expected by the Reuters poll.

China’s exports have fallen on a year-on-year basis every month this year starting in May. The last positive print for imports on a year-on-year basis was in September last year.

China’s trade slumped this year amid lackluster global demand for Chinese good and muted domestic demand.



Bucking the decline in trade with major trading partners were Chinese imports from the European Union, up modestly in September from a year ago, according to CNBC calculations of the official data.

The U.S. is China’s largest trading partner on a single-country basis, while the Association of Southeast Asian Nations has recently surpassed the EU as China’s largest trading partner on a regional basis.

For the first three quarters of the year, China’s exports to the U.S. fell by 16.4%, while imports dropped by 6% during that time.

Russia was the only major country or region in the Chinese customs agency’s report that showed growth in both exports and imports for the first three quarters of the year from a year ago.

By product category, China’s global export of autos remained the fastest growing, up on a unit basis by 64.4% from a year ago for the first three quarters of 2023. That’s slower than the 69% pace for the year recorded as of August.

China’s exports of ships and boats for the year picked up pace from August on a unit basis to a 16.2% year-on-year increase in the third quarter.

The volume of China’s cosmetics imports fell by 14.2% in the first three quarters compared to a year ago. The volume of crude oil imports rose by 14.6% during that time but fell on a U.S. dollar basis.

The pace of crude oil imports on a year-to-date basis in September was little changed from August.

Slowing economic growth

China’s recovery from the pandemic slowed in the last few months, dragged down by a slump in the massive real estate sector.

The International Monetary Fund this week trimmed its 2023 China growth forecast to 5% from 5.2%, while maintaining a global growth forecast of 3% for the year. The world economy grew by 3.5% last year.

China is set to report September retail sales on Oct. 18, along with third-quarter GDP figures.

Amid rising tensions with the U.S. and Europe in the last few years, China has sought to boost its trade with regional partners in Southeast Asia, as well as countries participating in the Belt and Road Initiative. The BRI is a China-led push for developing regional infrastructure such as ports and railways.

As of the end of September, China said it has trains running to 217 cities in 25 European countries.

Cargo transported along those rail lines accounted for 8% of China-EU trade in 2022, up from 1.5% in 2016, Chinese officials said this week.

China also claimed imports and exports with Belt and Road partner countries reached $19.1 trillion between 2013 and 2022 — for an average annual growth in trade of 6.4%.

The third Belt and Road forum is scheduled to be held in Beijing Tuesday and Wednesday. Russian President Vladimir Putin is expected to attend.



Source link

Tags: BeijingBreaking News: Asiabusiness newsChinaEconomic eventsexportsfallimportsInternational tradeMarket InsiderMarketsSeptemberStock markets
Previous Post

University of Sharjah Researchers Develop Artificial Intelligence Solutions for Inclusion of Arabic and Its Dialects in Natural Language Processing

Next Post

What the future of jobs report 2023 reveals | World Business Watch | Latest World News | WION

Related Posts

Can You Guess What Percentage Of Their Wealth The Rich Keep In Cash?
Business

Can You Guess What Percentage Of Their Wealth The Rich Keep In Cash?

June 10, 2024
UGRO Capital: Targeting to hit milestone of Rs 20,000 cr loan book in 8-10 quarters: Shachindra Nath
Business

UGRO Capital: Targeting to hit milestone of Rs 20,000 cr loan book in 8-10 quarters: Shachindra Nath

June 10, 2024
Blinken set to arrive in Egypt for Gaza ceasefire push By Reuters
Business

Blinken set to arrive in Egypt for Gaza ceasefire push By Reuters

June 10, 2024
Volvo is moving EV production from China to Belgium as the EU eyes tariffs on Beijing
Business

Volvo is moving EV production from China to Belgium as the EU eyes tariffs on Beijing

June 9, 2024
France’s Macron calls for snap election after losing big to the far right in EU vote
Business

France’s Macron calls for snap election after losing big to the far right in EU vote

June 9, 2024
Upgrades for Best Buy and Lululemon By Investing.com
Business

Upgrades for Best Buy and Lululemon By Investing.com

June 9, 2024
Next Post
What the future of jobs report 2023 reveals | World Business Watch | Latest World News | WION

What the future of jobs report 2023 reveals | World Business Watch | Latest World News | WION

🔥 Blockchain Full Course 2023 | Blockchain Technology Full Course for Beginners | Simplilearn

🔥 Blockchain Full Course 2023 | Blockchain Technology Full Course for Beginners | Simplilearn

The Ultimate Google Bard Cheat Sheet

The Ultimate Google Bard Cheat Sheet

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Is C.AI Down? Here Is What To Do Now

Is C.AI Down? Here Is What To Do Now

January 10, 2024
Accenture creates a regulatory document authoring solution using AWS generative AI services

Accenture creates a regulatory document authoring solution using AWS generative AI services

February 6, 2024
23 Plagiarism Facts and Statistics to Analyze Latest Trends

23 Plagiarism Facts and Statistics to Analyze Latest Trends

June 4, 2024
Managing PDFs in Node.js with pdf-lib

Managing PDFs in Node.js with pdf-lib

November 16, 2023
From Low-Level to High-Level Tasks: Scaling Fine-Tuning with the ANDROIDCONTROL Dataset

From Low-Level to High-Level Tasks: Scaling Fine-Tuning with the ANDROIDCONTROL Dataset

June 10, 2024
Turkish Airlines Marketing Strategy: Beyond “Globally Yours”

Turkish Airlines Marketing Strategy: Beyond “Globally Yours”

May 29, 2024
Can You Guess What Percentage Of Their Wealth The Rich Keep In Cash?

Can You Guess What Percentage Of Their Wealth The Rich Keep In Cash?

June 10, 2024
AI Compared: Which Assistant Is the Best?

AI Compared: Which Assistant Is the Best?

June 10, 2024
How insurance companies can use synthetic data to fight bias

How insurance companies can use synthetic data to fight bias

June 10, 2024
5 SLA metrics you should be monitoring

5 SLA metrics you should be monitoring

June 10, 2024
From Low-Level to High-Level Tasks: Scaling Fine-Tuning with the ANDROIDCONTROL Dataset

From Low-Level to High-Level Tasks: Scaling Fine-Tuning with the ANDROIDCONTROL Dataset

June 10, 2024
UGRO Capital: Targeting to hit milestone of Rs 20,000 cr loan book in 8-10 quarters: Shachindra Nath

UGRO Capital: Targeting to hit milestone of Rs 20,000 cr loan book in 8-10 quarters: Shachindra Nath

June 10, 2024
Facebook Twitter LinkedIn Pinterest RSS
News PouroverAI

The latest news and updates about the AI Technology and Latest Tech Updates around the world... PouroverAI keeps you in the loop.

CATEGORIES

  • AI Technology
  • Automation
  • Blockchain
  • Business
  • Cloud & Programming
  • Data Science & ML
  • Digital Marketing
  • Front-Tech
  • Uncategorized

SITEMAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2023 PouroverAI News.
PouroverAI News

No Result
View All Result
  • Home
  • AI Tech
  • Business
  • Blockchain
  • Data Science & ML
  • Cloud & Programming
  • Automation
  • Front-Tech
  • Marketing

Copyright © 2023 PouroverAI News.
PouroverAI News

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In