China's exports and imports rise as global economies slow down

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Mumbai, Ta. 14 July 2020, Tuesday

China's exports have seen an unexpected increase in June as a result of increased economic activity in various countries after the lockdown. China's imports have also increased for the first time in the current year. Thus, there are indications that China is emerging from the economic impact of the Corona. However many countries in the world are still under the influence of coronavirus.

China's exports rose half a percent year-on-year in June, according to released customs data. However, analysts had expected a decline of 1.5 per cent. In May, China's exports fell by 2.50 per cent.

China's imports also rose by 3.50 per cent in June from a 10 per cent decline. In May, China's imports fell by 14.50 per cent. The resumption of Western economies and increased demand for China's Personal Protection Equipment (PPE) and masks have supported China's exports.

In addition, the ongoing disruption in production in China's major trading competitors has also helped boost China's exports, an analyst said.

In the first quarter, China's economy contracted by 2.50 per cent, but China is gradually recovering. However, as coronavirus cases continue to rise and social demand has resulted in uncertain global demand, the recovery is looking bleak.

The rise in Chinese imports is a sign that economic recovery in China is gaining momentum. Imports have increased due to huge investments in real estate and infrastructure. The data shows that China's imports of iron ore and crude oil are on the rise.


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