Chine - Exportations

Exports from China dropped by 1.1 percent year-on-year to USD 221.74 billion in November 2019, missing market expectations of 1 percent growth and following a revised 0.8 percent drop in the previous month. This was the fourth straight month of yearly decline in overseas sales, amid weakening global demand and ongoing trade tensions with the US. Sales declined for crude oil (-79.4 percent), unwrought aluminium and products (-15.7 percent), coke & semi-coke (-63.1 percent), steel products (-13.6 percent), and rice (-47.4 percent). In contrast, overseas sales grew for both refined products (63.6 percent), and coal (14.9 percent). Among major trade partners, exports fell to the US (-23.0 percent), the EU (-3.8 percent), Japan (-7.8 percent) and Australia (-0.1 percent); but rose to ASEAN (18.0 percent), Taiwan (6.5 percent) and South Korea (0.5 percent).

Exports from China dropped by 0.9 percent year-on-year to USD 212.93 billion in October of 2019, compared to market estimates of a 3.9 percent decline and after a 3.2 percent fall in September. This was the third straight month of yearly decline in overseas sales, amid weakening global demand and ongoing trade dispute with the US. Sales contracted for steel products (-13.1% to 4.78 million tonnes), coal (-29.6% to 0.34 million tonnes), coke & semi-coke (-67.8% to 0.27 million tonnes) and unwrought aluminium and products (-10.6% to 431,000 tonnes). In contrast, exports rose for refined products (25% to 5 million tonnes), rare earth (17.4% to 3,639.2 tonnes) and rice (34.2% to 251,000 tonnes). Exports fell to the US (-16.2%), Japan (-7.8%), and Australia (-0.6%); but rose to South Korea (5.5%), Taiwan (19.7%), the EU (3.1%), and the ASEAN countries (15.8%).

Exports from China dropped 3.2 percent year-on-year in September 2019 to USD 218.12 billion, after a 1 percent fall in August and compared to market estimates of 3 percent decline. This was the steepest yearly fall in overseas sales since February, amid weakening global demand and ongoing trade dispute with the US. Meanwhile, following a recent first phase of a trade deal, US President Donald Trump suspended a threatened tariff hike set for October 15th. Sales went down for unwrought aluminium and products (-14.2 percent); coke & semi-coke (-25.8 percent); steel products (-10.4 percent); crude oil (-70.5 percent), rare earth (-27.9 percent) and rice (-46.9 percent). Conversely, sales of coal jumped (34.5 percent). Among major trade partners, exports fell to the US (-17.8 percent); but rose to Japan (11 percent), South Korea (4.4 percent), Taiwan (29.5 percent), the EU (1.3 percent) and the ASEAN countries (11.5 percent).

Exports from China dropped 1 percent year-on-year to USD 214.80 billion in August 2019, missing market consensus of a 2 percent growth and following a 3.3 percent increase in July. The decline came in amid persistently weak global demand and intensifying trade dispute with the US. Washington announced last month 15 percent tariffs on a wide range of Chinese goods from September 1st, while Beijing hit back with retaliatory levies and let its yuan currency fall sharply to offset some of the pressure. Sales declined for: unwrought aluminium and products (-9.9 percent); coal (-29.8 percent); coke & semi-coke (-44 percent); steel products (-14.8 percent); refined products (-23.4 percent); and rice (-3.9 percent). Among major trade partners, exports fell to the US (-16 percent) and Australia (-17 percent); but rose to the EU (3.2 percent), ASEAN (11.2 percent), Taiwan (24.6 percent), Japan (1.4 percent) and South Korea (1.9 percent).

Exports from China rose 3.3 percent from a year earlier to USD 221.5 billion in July, defying market expectations of a 2 percent drop and following a 1.3 percent decline in June. This was the fastest yearly growth in overseas sales since March despite escalating trade tensions with the US; but the rebound may be short-lived, with Washington preparing to impose more tariffs on Chinese goods from September 1st. Sales of oil products surged 20 percent and rare earth exports went up 15.8 percent. Meanwhile, aluminium exports fell 6.2 percent. Among China's largest trade partners, exports rose to the EU (6.5 percent), ASEAN (15.6 percent), South Korea (9.2 percent), Taiwan (19.9 percent), and Australia (1.1 percent), but fell to the US (-6.5 percent) and Japan (-4.1 percent).

Exports from China fell 1.3 percent year-on-year to USD 212.84 billion in June 2019, compared to market expectations of a 2 percent drop. It was the first full month of higher US tariffs on USD 200 billion of Chinese goods, which were implemented weeks earlier. Meanwhile, Beijing and Washington agreed to restart negotiations amid concerns that the ongoing trade tensions continue to weigh on global growth. Sales fell for: unwrought aluminium and aluminium products (-0.8 percent); coke & semi-coke (-60.1 percent); steel products (-23.6 percent); coal (-5.9 percent); and rare earths (-27.3 percent). By contrast, exports of rice jumped 81.7 percent. Among China's largest trade partners, exports dropped to the US (-7.8 percent), the EU (-3.1 percent) and Australia (-3.4 percent), but rose to ASEAN (12.8 percent), Taiwan (5 percent), South Korea (2.9 percent) and Japan (2.4 percent).