Space Industry and Business News
TRADE WARS
China exports jump in May but imports slow: customs
China exports jump in May but imports slow: customs
by AFP Staff Writers
Beijing (AFP) June 7, 2024

China's exports accelerated far more than expected in May but imports slowed, official figures showed Friday, in further evidence of an uneven recovery for the world's number two economy.

Overseas shipments surged 7.6 percent on-year in dollar terms, the General Administration of Customs said -- much better than April's 1.5 percent and also beating the 5.7 percent forecast in a Bloomberg survey of analysts.

Exports have historically served as an important economic engine in China, with overseas sales performance having a direct impact on employment for thousands of companies.

The latest figures represent a second consecutive month of growth, following a brief year-on-year decline of 7.5 percent in March.

But various headwinds facing China's trade outlook remain, with combined exports and imports with the United States down 1.4 percent in May amid continuing geopolitical spats between the superpowers.

Trade between China and Russia grew 2.9 percent last month, though Chinese exports to its neighbour fell for the first time since 2020.

Beijing and Moscow have strengthened economic and political ties since Russia's invasion of Ukraine in 2022 -- a decision that China has not condemned.

China's total imports grew 1.8 percent on-year in May, the data showed, down from the 8.4 percent surge recorded in April.

A highly anticipated economic recovery in China following the scrapping of tight pandemic restrictions in late 2022 has been less robust than expected.

Beijing policymakers now face an uncertain economic situation, as a debt crisis in the real estate sector and high youth unemployment threaten to weigh down consumer confidence.

The latest jump in exports brought China's trade surplus to $82.6 billion, from $72.4 billion in April.

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
Ukraine urges Chinese companies to invest in war-torn country
Kyiv, Ukraine (AFP) June 6, 2024
A Ukrainian diplomat visiting China urged state and private companies to work more closely with the war-torn country and boost trade and investment, Kyiv's foreign ministry said Wednesday. First deputy foreign minister Andriy Sybiga met with representatives of 13 state-owned and private companies in Shanghai, the ministry said. Sybiga "called on Chinese companies to take a more active part in helping Ukraine, in particular in developing trade and investment relations", it added. One topic di ... read more

TRADE WARS
Purdue Researchers Transform 2D Metal Halide Perovskites into 1D Nanowires

Researchers demonstrate the first chip-based 3D printer

AI to 'transform' gaming but costly, Ubisoft CEO tells AFP

'Call of Duty' leads packed Xbox video game lineup

TRADE WARS
Iridium Secures Five-Year $94 Million Contract with Space Systems Command

EchoStar secures contract to provide 5G to US Navy and agencies

China launches communication test satellites into medium-Earth orbit

CesiumAstro provides multi-beam Ka-band payloads for Rocket Lab under Tranche 2 contract

TRADE WARS
TRADE WARS
Europe's Largest Ground Segment Upgraded Without User Disruption

Magic Lane secures 3 million euro to enhance location intelligence capabilities

China Encourages BeiDou System Integration in Electric Bicycles

Estonia summons Russian envoy over GPS jamming

TRADE WARS
Germany to buy 20 more Eurofighter jets to boost defence

Taiwan detects 23 Chinese aircraft around the island

Airbus advances superconductivity research for hydrogen aircraft

Resurgent airlines soar towards passenger, revenue records

TRADE WARS
TSMC unit, NXP of Netherlands unveil Singapore chip plant plan

A roadmap for two-dimensional materials in information technology

UC San Diego Innovates with Protocol for Creating Functional Miniature Brain Models

Intel suspends expansion of factory plan in Israel

TRADE WARS
Diagnosing damaged infrastructure from space

Planet Labs Prepares to Launch Tanager-1 Hyperspectral Satellite

Airbus delivers Sentinel-5 instrument for ESA's MetOp satellite

Twin NASA Satellites to Measure Earth's Polar Energy Emissions

TRADE WARS
Cambodia environmental activists boycott 'plotting' trial

Meet Neo Px: the super plant that attacks air pollution

Indonesia law giving religious groups mining permits sparks outrage

'Come back': Champs-Elysees wants to win over Parisians

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.