Looser lockdowns, global vaccination accelerate China’s export growth

13.07.2021 - Korneychuk Evgeniya
Looser lockdowns, global vaccination accelerate China’s export growth

China’s export recorded faster-than-expected growth in June fuelled by a strong global demand as pandemic restrictions eased and vaccination rollouts accelerated worldwide.

However, a customs official on Tuesday warned of a slowdown in trade growth in the second half of 2021 following a surge of the Delta virus variant in some countries.

Exports in dollar terms climbed 32.2% in June from a year earlier, compared with a 27.9% jump in May. This gain exceeded the 23.1% increase forecasted by analysts.

Overall imports also surpassed expectations despite a slow gain in May due to high values boosted by an increase in raw material prices.

Imports advanced 36.7% year-on-year last month, exceeding a 30.0% forecast but slowing from a 51.1% gain in May.

China’s trade performance has been hounded by issues in recent months, including global semiconductor shortage, logistics bottlenecks, and higher raw material and freight costs.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?