In October, China’s export growth was the highest in 19 months. Imports have also increased. This information came up in the official statistics of the country on Saturday.
In October, China’s exports grew by 11.4 percent over the same period last year. The trade surplus has increased to 56.44 billion based on exports. This information has come up in a report of the media CNBC.
Receipts exceeded analysts’ expectations. They expected exports to grow 9.3 percent in October, with a trade surplus of 46 billion. In September, China’s exports grew by 9.9 percent and its trade surplus was 37 billion. China’s surplus with the United States in October was 31.38 billion. September which was about 30 billion.
China is in a good position to export corona during this period. Massive demand for medical supplies and declining productivity in many countries have worked for China.
Analysts say export growth is accelerating further and expectations are exceeding significantly, indicating a relatively strong momentum. The main reason for this is that the country is able to start production faster than its global rivals by reducing the spread of corona. In addition, Kovid-related products, such as: masks and medical equipment to make rapid progress. Analysts believe that China will be able to maintain this strong position this year.
Imports have increased by 4.6 percent this year as compared to October last year. However, imports declined in October compared to last September. In September, the growth in imports was 13.2 percent, which was quite unexpected. Analysts say a strong trade position will accelerate China’s economic recovery.
In the third quarter of this year (July-September), China’s economic growth was 4.9 percent.
