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China’s service trade continued to experience rapid growth in the first five months of 2024. According to the Ministry of Commerce, the total value of service imports and exports reached 3.02 trillion yuan ($415.6 billion), representing a year-on-year increase of 16%. The exports amounted to approximately 1.22 trillion yuan, up 11%, while imports stood at 1.8 trillion yuan, with a robust growth of 19.6%. This resulted in a service trade deficit of around 580 billion yuan. Read more: https://lnkd.in/drKk8RMH #China #Trade #Economy #Import #Export

Mexico surpassed China for US exports. That hasn’t happened in 20 years, and signals a shift in global trade. https://lnkd.in/g5p_ftrp #news #economynews #economy #usa #mexico #mexicobusinessnews #mexicobusiness #exports #export #trade #worldtrade

China's Trade Pivot: ASEAN Overtakes US in 2023 - China's exports to Southeast Asia exceeded those to the US in 2023, marking a significant trade realignment. - ASEAN nations bought $524 billions of Chinese goods, outpacing both the US and the European Union. - The data reveals a gradual decoupling between China and the US, with increased exports to Mexico potentially to avoid US tariffs. - Sustained deflation in China lowered export prices, making Chinese goods more affordable globally. Source: https://lnkd.in/gdkqg2cr 🚀 Elevate your container shipping insights! 🌊✨ Subscribe to our FREE weekly newsletter for exclusive updates and cutting-edge analyses. 📬 Join now: https://lnkd.in/dH4CEhzt 🌐🔍 🌊💡For more, reach us via following form: 👉https://lnkd.in/dUaHK5WU #containershipping #maritime #shippinglines #maersk #cmacgm #hapaglloyd #carriers #shipping #msc #globaltrade #yangming #wanhai #evergreen #seafreight #shipping #maritime #freight #export #import

【NEWS UPDATE】📊 China's Exports Surge Amid Economic Challenges! 🇨🇳📈 https://lnkd.in/g5EN5dkQ In August, China's exports grew at their fastest pace in nearly a year and a half, rising 8.7% year-on-year. This surge comes as manufacturers rush to fulfill orders before potential tariffs are imposed by trading partners. However, imports lagged at just 0.5% growth, highlighting weak domestic demand. 🔍 Key Insights: Trade Surplus: China’s trade surplus with the U.S. expanded to $33.81 billion, raising concerns over trade imbalances. Geopolitical Pressures: Growing trade barriers, especially from Canada and Southeast Asia, threaten China’s price-driven export strategy. Economic Outlook: Despite current export strength, economists warn that relying heavily on exports may hinder Beijing's growth targets. 💡 Looking ahead, the weaker yuan may help exporters navigate tariffs, but challenges remain as domestic consumption struggles. As analysts point out, imports are crucial for maintaining robust exports, particularly in the electronics sector. Stay informed on the evolving landscape of global trade! 🌍 #ChinaExports #TradeSurplus #GlobalEconomy #EconomicGrowth #MarketInsights #TradePolicy #ImportExport #Geopolitics

#ChinaNews Trade and Economy China experienced a decrease in export growth in March compared to the previous year, with shipments falling by 7.5 percent to $279.7 billion, as reported by customs data. However, despite this decline, exports in the first quarter overall returned to expansion. Analysts expect the figures to stabilize due to a strong recovery in overseas demand. The recovery in overseas markets, coupled with growth in the digital economy, is expected to drive robust expansion for the rest of the year, despite geopolitical challenges. #ChinaNews #InternationalTrade #Economy https://lnkd.in/gXcvhqf8

China's total import and export of goods expanded 5 percent year on year in yuan terms in the first quarter (Q1) of 2024, setting new records in both scale and growth rate, official data showed Friday. “In the first quarter, China's trade with countries participating in the Belt and Road Initiative (BRI) and other BRICS nations has shown a growth rate that surpasses the overall growth rate. Trade with BRI partner countries reached 4.82 trillion yuan, marking a 5.5 percent increase and accounting for 47.4 percent of China's total trade volume, the data showed. Trade with the European Union, the United States, the Republic of Korea, and Japan accounted for a combined share of 33.4 percent of the total.” https://lnkd.in/gYcHbeyq

China's Foreign Trade Hits Record High in First Half of 2024  On July 12, the General Administration of Customs of China released foreign trade data for the first half of the year 2024, showing that the scale of China's imports and exports reached a new high with continued positive momentum. In the first half of the year, the total value of China's trade imports and exports was 21.17 trillion yuan(USD 2.96 trillion), an increase of 6.1% year-on-year (the same below). Exports were 12.13 trillion yuan (USD 1.69 trillion), up 6.9%; imports were 9.04 trillion yuan(USD 1.26 trillion), up 5.2%; and the trade surplus was 3.09 trillion yuan (USD 0.43 trillion), an increase of 12%. In the first half of the year, ASEAN was China's largest trading partner, with the total trade value between China and ASEAN reaching 3.36 trillion yuan (USD 0.47 trillion), an increase of 10.5%, accounting for 15.9% of the total foreign trade value. The EU was China's second-largest trading partner, with the total trade value between China and the EU at 2.72 trillion yuan (USD 380.8 billion), a decrease of 0.7%, accounting for 12.8%. The United States was China's third-largest trading partner, with the total trade value between China and the United States at 2.29 trillion yuan(USD 320.6 billion), an increase of 2.9%, accounting for 10.8%. As the market grows, many opportunities await, such as the opportunity to become a Mail Boxes Etc. Master Franchisee in China, contact us to know more! #ChinaImportandExport  #InternationalLogistics  #ExportMarket  #Entrepreneurship #Peoplepossible

These figures speak volumes about the reasons behind the rise of protectionism in the West (Q1, Q2). Q1: "China’s exports to its major trading partners — the U.S., European Union and Association of Southeast Asian Nations — all rose in August from a year ago. Exports to the EU grew the most, up by 13%, according to CNBC calculations of official data." Q2: "China’s imports from the U.S. rose by 12% in August from a year ago, while imports from the EU fell, the data analysis showed. Imports from ASEAN rose by 5%." https://lnkd.in/g-U6reHX

China’s exports climbed more than expected in May, boosting hopes that the world’s second-biggest economy can maintain momentum by relying on foreign markets in the face of new tariff threats, according to Bloomberg.