China's exports fell for the first time in two months. Maybe the main reason is the drop in demand in Europe and the United States.
China's last month's exports fell by more than 3% from the same month last year, the first negative figure in two months. Due to the spread of new coronavirus infections worldwide, it is believed that the main reason for this was a drop in demand from the United States and Europe, which are major export destinations.
According to last month's trade statistics released by China's customs officials, China's combined exports and imports totaled $350.7 billion, a 9.3% decrease over the same month last year.
Of this amount, export value was $206.81 billion, a decrease of 3.3%.
The amount of Chinese exports dropped sharply from January due to the stagnation of corporate activity in China due to the spread of infections, but domestic corporate activity began to recover and once increased in April.
The main reason for the decline in exports is that demand from major export destinations such as the United States and Europe fell due to the spread of global infections. It has also been pointed out that there is concern that it may delay the economic recovery in China.
On the other hand, the import value was 143.89 billion dollars, 16.7% lower than the same month last year.
It is believed that the import prices of crude oil, etc. have fallen and that domestic demand has not been fulfilled.
Looking at the amount of imports from the United States, which is in conflict with the trade issue, the cumulative total from January to last month fell 7.6% from the same period last year.
President Trump has been very dissatisfied with the fact that China's imports from the United States will not increase, and there is concern that the relationship between the United States and China over the trade issue will worsen.