Chinese imports in dollars rose in August 2016 for the first time in nearly two years, while exports slowed its decline. The imports surprised analysts and rose by 1.5% yoy, reversing the losing trend since July, when it was decreased by 12.5%. The increase in August was the first annual growth in dollar dimensions since October 2014. Meanwhile, the exports in dollars decreased by 2.8%, once in July recorded a decline of 4.4%. Thus, the trade surplus of China became 52.05 billion USD, slightly less than the value in July (52.31 billion USD). The surplus is the highest in seven months since and does not justify analysts’ expectations.
Despite the good data, the weak global demand will continue to weigh on Chinese exports and prospects for the manufacturing sector. However, the data might be ray of hope for global trade amid recent concerns about protectionism and stagnation in negotiations on the Trans-Pacific Partnership and transatlantic partnership for trade and investment.
World Trade Organisation expects global trade to record a fifth consecutive year of growth below 3%, because of the lower value of the goods, which in turn is due to fluctuations in exchange rates and the decline in commodity prices.
more recommended stories
House Republicans Step Up Effort on Tax Bill
In a year of legislative disappointments,.
Lies, Damned Lies, and Statistics: Phil Gramm and Michael Solon Edition
The popular aphorism that is commonly.
No More Easy Choices: The Death of the Phillips Curve?
“An economist is someone that will.
Stanley Fischer Resigns from Federal Reserve
Stanley Fischer is retiring from the.
Australia Q2 GDP Growth at 1.8%, While Household Savings Declines
The Australian economy expanded by 1.8%.
The Benefits of Trade Finance for Exporters
Unknown to many, trade finance is.
Swiss Inflation Perks Up in August
Prices in Switzerland increased by 0.5%.
Boeing Scores Major Victory Over Rival Airbus
Seattle based Boeing won a major.
Moody’s Sharply Revises Polish Growth Forecasts Higher
New York based credit rating agency.
Czech Growth Revised Upward to 4.7%
GDP growth in the Czech Republic.