China's overall international trade surpasses $570 bn in Mar 2023, surplus expanded by 16.2 per cent

[beijingwalker]

China's overall international trade surpasses $570 bn in Mar 2023, surplus expanded by 16.2 per cent​

02 May '23

INSIGHTS​

• China's overall international trade for March 2023 reached $570.5 billion, a 2 per cent YoY increase.
• Exports of goods amounted to 1.85 trillion yuan, while imports were at 1.51 trillion yuan, leading to a surplus of 344.1 billion yuan.
• China's trade surplus for the first two months of 2023 expanded by 16.2 per cent YoY, reaching 810.32 billion yuan.

China’s overall international trade in March 2023 exceeded 3.94 trillion yuan or $570.5 billion, up 2 per cent year-on-year (YoY).

Exports of goods for the same period reached around 1.85 trillion yuan, while imports neared 1.51 trillion yuan, which resulted in a surplus of 344.1 billion yuan, according to the State Administration of Foreign Exchange.

During the first two months of 2023, China’s overall exports increased by 0.9 per cent compared to the previous year, reaching a total value of 3.5 trillion yuan, while imports declined by 2.9 per cent to 2.68 trillion yuan. As a result, the country’s trade surplus expanded by 16.2 per cent on a yearly basis, reaching 810.32 billion yuan, the General Administration of Customs said.

China's overall international trade surpasses $570 bn in Mar 2023

China's overall international trade for March 2023 reached $570.5 billion, a 2 per cent YoY increase. Exports of goods amounted to 1.85 trillion yuan, while imports were...

www.fibre2fashion.com

 

[Viet]

Chinese suck money from trades like a giant vacuum cleaner. That’s not fair.

 

[CallSignMaverick]

China is at $6.8 trillion approx (2023) while India is only at $1.7 trillion (in 2022). Hope India crosses $2 trillion this year.

 

[Zsari]

Meanwhile

Taiwan's economy saw a year-over-year contraction of 3.02 percent in the first quarter of 2023 amid falling global demand for Taiwanese exports, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Friday. The contraction was due to falling global demand impacting Taiwan's exports, which dropped by 19.17 percent from a year earlier in the first quarter of 2023, according to DGBAS specialist Wu Pei-hsuan.

Vietnam's exports in the first quarter fell 11.8% from a year earlier to $79.3 billion, government's customs data released on Monday showed.

South Korea's exports fell in March year-on-year for the sixth month in a row, hit by a cooling global economy and a persistent slump in the semiconductor sector, down 13.6% from a year earlier, the trade ministry's data showed.

 

[S10]

Chinese suck money from trades like a giant vacuum cleaner. That’s not fair.

You act like Vietnam isn't making money from assembling Chinese parts for exports.

 

[Indos]

Chinese suck money from trades like a giant vacuum cleaner. That’s not fair.

China for manufacturing goods export and India with export services

Each with its own competitive advantage over both sectors.

 

[Indos]

Meanwhile

Taiwan's economy saw a year-over-year contraction of 3.02 percent in the first quarter of 2023 amid falling global demand for Taiwanese exports, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Friday. The contraction was due to falling global demand impacting Taiwan's exports, which dropped by 19.17 percent from a year earlier in the first quarter of 2023, according to DGBAS specialist Wu Pei-hsuan.

Vietnam's exports in the first quarter fell 11.8% from a year earlier to $79.3 billion, government's customs data released on Monday showed.

South Korea's exports fell in March year-on-year for the sixth month in a row, hit by a cooling global economy and a persistent slump in the semiconductor sector, down 13.6% from a year earlier, the trade ministry's data showed.

Vietnam, Singapore are so effected with the slowdown in developed countries market. So far the opening of China cannot compensate the fall in developed economy markets for both two. Vietnam economic growth in first quarter of 2023 fall to around 3 percent and Singapore at less than 1 %.

Inflation and higher interest rate in developed countries really effects their demand side. Next year the economic situation will likely get better for those countries as inflation slowing that will follow with lower interest rate thus will likely expand their demand side.

 

[letsrock]

China is at $6.8 trillion approx (2023) while India is only at $1.7 trillion (in 2022). Hope India crosses $2 trillion this year.

its only around 1.2 trillion for india.

 

[CallSignMaverick]

its only around 1.2 trillion for india.

 

[letsrock]

View attachment 927468

The exports seem to include the "services" part. Actual goods exports is only $440 or so billion.
I dont count indian service exports at all. There are more of accounting entries than actual movement of any money.

 

[CallSignMaverick]

The exports seem to include the "services" part. Actual goods exports is only $440 or so billion.
I dont count indian service exports at all. There are more of accounting entries than actual movement of any money.

An export is an export