Energy News
TRADE WARS
China trade surges in first two months of 2024
China trade surges in first two months of 2024
by AFP Staff Writers
Beijing (AFP) March 7, 2024

China's exports sharply accelerated in the first two months of 2024, official figures showed Thursday, providing policymakers a bright spot as they battle to revive the world's second-largest economy.

Overseas shipments have long served as a key driver of the country's economic growth, providing vast amounts of jobs for the manufacturing sector.

In January and February combined, exports surged 7.1 percent on-year, the General Administration of Customs said, smashing the 1.9 percent forecast in a Bloomberg survey of analysts.

The huge rise was partially attributed to the low base of comparison with January-February last year, when China emerged from its strict zero-Covid measures.

Exports have been increasing since November, after six straight months of contraction.

However, concerns about the global economic outlook owing to sticky inflation and elevated interest rates continue to subdue demand for Chinese goods.

Commerce Minister Wang Wentao acknowledged the recent rebound Wednesday on the sidelines of a major political gathering in Beijing and stressed that "the overall trend is upward".

But he warned that March would likely see a decline.

China's trade performance has also been weighed in recent years by heightened geopolitical tensions with Washington, spurring Western firms to look at reducing their dependence on the country.

Imports also rose 3.5 percent in January-February -- much sharper than the 0.2 percent increase recorded in December.

Analysts surveyed by Bloomberg had anticipated an increase of 2.0 percent.

China previously saw imports contract for 11 months before briefly rebounding in October.

And despite trade between China and Russia soaring to record heights in 2023, imports from Russia were less strong in the first two months.

Shipments from Russia gained 6.7 percent on-year, the weakest performance since April 2021.

China's trade surplus amounted to $125.1 billion in the first two months, having come in at $75.3 billion in December.

Related Links
Global Trade News

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
TRADE WARS
French, Asian shipping giants extend alliance
Paris (AFP) Feb 27, 2024
Shipping giants CMA CGM of France, China's Cosco Shipping, Taiwan's Evergreen and Hong Kong-based OOCL said on Tuesday they were extending the sector's biggest operational alliance to 2032. CMA CGM, the world's third biggest shipping company, said the Ocean Alliance, in place since 2017, enables its members to provide fast transit times and a broad range of ports. The partnership covers the seven main East-West routes linking Asia with northern Europe, the Mediterranean, the Middle East and the ... read more

TRADE WARS
Stormclouds gather over EU's Green Deal

Climate perils costing US 0.4% of its GDP: Swiss Re

World needs 'trillions' for climate action: COP28 president

Sounding warning, Kerry urges new ways on climate finance

TRADE WARS
Preventing Magnet Meltdowns Before They Can Start

Power when the sun doesn't shine

UK 'net zero' economy bucks recession: study

Tests show high-temperature superconducting magnets are ready for fusion

TRADE WARS
Wind-powered Dutch ship sets sail for greener future

Leaf-shaped generators create electricity from the wind and rain

European offshore wind enjoys record year in 2023

Danish firm to build huge wind farm off UK

TRADE WARS
Advanced material science enhances silicon solar cell efficiency

Crown Ethers Enhance Perovskite Solar Cells, Preventing Lead Leakage

Guiding future research on 'extraordinary potential' of next-generation solar cells

Study unlocks nanoscale secrets for designing next-generation solar cells

TRADE WARS
Orano secures uranium enrichment services deal with CEZ

Framatome partners with TerraPower for Natrium reactor fuel handling equipment design

IAEA warns against restarting Ukraine nuclear plant

IAEA chief to hold talks with Putin about Ukraine nuclear plant

TRADE WARS
Greenhouse gas repurposed in University of Auckland experiments

Inexpensive, carbon-neutral biofuels are finally possible

Watching the enzymes that convert plant fiber into simple sugars

Microbial division of labor produces higher biofuel yields

TRADE WARS
UNIST paves the way for revolutionary high-density hydrogen storage solutions

Oil spills pile on pressure for Iraq's farmers

Vessel targeted off Yemen: security firm

British navy ship repels Huthi rebel attack: minister

TRADE WARS
Oranges wither, cows go hungry in drought-hit Sicily

Zambia declares national disaster over El Nino drought

US-listed companies required to disclose climate emissions

Years removed from war, Iraqis seek new desert escapades

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.