Posts Tagged ‘Export’

China’s trade surplus in 2012 was 48% higher than in 2011

January 10, 2013

China’s role as a motor for the world economy continues.

In spite of sluggish world-wide demand, Chinese exports rose 7.9 percent in 2012 from the previous year, while imports climbed 4.3 percent year on year. Xinhua reports that “China’s foreign trade for 2013 will be better than that of last year despite uncertainties, a General Administration of Customs spokesman said on Thursday. Spokesman Zheng Yuesheng said global economies have launched stimulus policies to prevent growth rates from slumping, adding that China’s domestic efforts to boost the growth of foreign trade will have more visible effects this year”.

MarketWatch: China’s trade surplus soared to $31.6 billion in December, trouncing estimates and widening sharply from a $19.6 billion surplus in November, aided by a strong growth in the country’s exports. Official data released Thursday showed exports expanded 14.1% during the month from the year-earlier period, while imports grew 6%. A survey of economists by Dow Jones Newswires estimated a trade surplus of $19.6 billion, exports growth of 4.6% and a 3.3% increase in imports. The steep increase in December’s positive trade balance boosted China’s full-year trade surplus for 2012 to $231.1 billion, 48.1% higher than the level recorded in 2011, according to a Xinhua news report.

 

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German economic motor is still running strong

October 15, 2010

The weaknesses in various Eurozone countries are depressing the value of the Euro but this is contributing to the continued strong exports from Germany. The GDP growth forecast for 2010 has been revised upwards to 3.5%. A second recession in the US and global reduction of stimulus programmes through 2011 could depress exports but the hope is that lower unemployment and wage increases would favour the strengthening domestic consumption to be able to compensate.

 

Exports helped the German economy rebound quickly

Exports helped the German economy rebound quickly

 

Deutsche Welle: German economy on course for strongest growth in decades

Five leading think tanks have predicted that the German economy will grow by 3.5 percent in 2010, up from a more modest prediction of 1.5 percent earlier this year. Unemployment is expected to drop below three million. In their twice-yearly report, Germany’s five leading economic think tanks also included ….. a sharp increase in exports in the first half of the year (which has) fuelled the rebound from the deepest recession since World War II.

“The upturn is stable,” said Kai Carstensen from the Munich-based Ifo institute, one of the think tanks involved in the report. “In Germany, it looks good. The risks are above all overseas.” In Germany, Berlin plans to bring the country’s finances back into shape by cutting back on government spending. The move could lead to the deficit falling below three percent of gross domestic product, the ceiling set out for Euopean Union countries that use the euro currency.

And Der Spiegel points out that

the DAX, Germany’s stock exchange index, topped 6,400 on Wednesday, reaching a level not seen since just days before the collapse of the US investment bank Lehman Brothers.

The report also indicated that climbing tax revenues will result in a 2011 budget deficit of just 2.7 percent, below the 3.0 percent maximum allowed by European Union rules. German wages are forecast to rise by up to 2.8 percent in 2011. The economic experts who authored the report anticipate that domestic consumption will continue to be strong next year as a result.

The report, which is used by the German government to develop its own economic forecasts, was not without warnings. A renewed recession in the US remains possible, the report warns, as does a massive correction in the overheated Chinese real estate market.

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