China’s exports on the rise again despite corona pandemic

China's exports on the rise again despite corona pandemic

China’s exports increased surprisingly despite the global coronavirus outbreak in april. According to the beijing customs authority, exports increased by 3.5 percent compared with april of the previous year.

Imports, on the other hand, fell sharply by 14.2 percent. Analysts had expected a significant decline in both imports and exports.

Strict measures against the spread of the coronavirus had brought the chinese economy to a virtual standstill since the end of january. The effects were therefore particularly noticeable in february. After that, a slow recovery set in. However, as the virus has since spread to the rest of the world, global trade has been sluggish.

The positive development of export figures shows that, at least so far, china has been able to successfully counter the decline in demand from abroad. The world’s second-largest economy is still far from normal.

The people’s republic is an important sales market for german companies. Last year, the volume of exports was 96 billion euros. Since 2015, china has also been the country from which most imports come to germany.

Markus steilemann, head of plastics specialist covestro, reported that demand from china has now picked up again significantly. “We are seeing a revival in the electronics market.” This would particularly affect parts of the home electronics industry. “That means people are buying monitors, people are buying laptops, people are buying, for example, cameras, virtual reality glasses.” Demand for medical products is also on the rise. But demand is not yet at the level of the previous year.

The port of duisburg actually saw more good trains arrive from china in april than before the corona outbreak, according to a statement from the port. Normally, 35 to 40 shipments are made per week, but in april there were around 50. “We are clearly feeling the pandemic-related catch-up effects in the china business,” said port chief erich staake.

The sporting goods manufacturer puma expects business in the chinese market to return to normal by june at the latest, at the level of the previous year. Currently, fewer customers came, “but they buy more,” said chief executive officer bjorn gulden.

China’s services sector has been slower to recover than hoped for. The business magazine “caixin’s” barometer of sentiment for the sector stood at 44.4 points in april. Although this is slightly better than in march. However, a figure of less than 50 points still indicates that activity in the sector is on the decline.

Observers fear that increasing tensions between the u.S. And china could also become an additional burden on trade. The spokeswoman for the weiben house, kayleigh mcenany, said on wednesday evening (local time): “at the moment it is a relationship of disenchantment and frustration.”US president donald trump again accused china of failing to contain the coronavirus at its source in wuhan. “It should have been stopped in china. It should have been stopped right at the source, and it wasn’t,” trump criticized at the weiben house.

The united states accuses china of covering up the origin of the coronavirus, which has led to repeated harsh reactions from chinese diplomats in recent weeks. The dispute could also have the effect of reigniting the trade conflict between the two world powers.

It is being awaited with particular anticipation whether – and if so – what further measures will be decided at this year’s people’s congress in beijing to support the economy. Every year, the delegates actually meet in march in the rough hall of the people for their nearly two-week plenary session. Due to the coronavirus outbreak, however, the launch date was postponed this time to 22 january. May relocated. China’s economic output contracted in the first quarter for the first time since the data was collected.

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