Status: 11/08/2021 10:22 a.m.
China’s economy floods the world with its goods. In October too, companies in the People’s Republic increased their exports by more than a quarter compared to the same month last year.
China’s exports also rose sharply in October. The sustained upward trend in foreign trade is thus continuing. In October exports of the world’s second largest economy rose by 27.1 percent to 300 billion dollars compared to the same month last year. That comes from the data of the customs in Beijing.
Enormous growth rates
The export economy did not quite reach the level of the previous month, when exports had increased by 28.1 percent. But viewed over a longer period of time, the expansion continues with strikingly high growth rates: China’s exports grew in the double-digit percentage range for the 13th month in a row.
At the same time, China imported 20.6 percent more goods in October. This development also indicates that demand in the Chinese domestic market is rather disappointing. Since September, the country has been in the worst energy crisis for more than ten years. In addition, the Chinese authorities have introduced strict travel restrictions in the past few weeks due to a widespread corona outbreak.
Germany’s exports to China stall
The imports of the People’s Republic from Germany fell in October compared to the same month last year by 5.1 percent. China’s exports to Germany, on the other hand, increased significantly by 42.5 percent.
Overall, China generated a trade surplus of $ 84.5 billion in October. Analysts had expected a surplus of $ 65.6 billion. In September, China had a trade surplus of $ 66.8 billion.