For the first time in recent months Cosco, the Chinese shipping giant, a few days ago revealed growing profits: + 46.8% to 9.93 billion yuan in 2020 (1.5 billion US dollars), with + 13.4% in the jump in profits to 171.3. The demand for commodities and the recovery in trade are the basis for the recovery of the stability of the Chinese trade balance. Beijing’s trade volume in March grew by 29.2%. An improvement linked to the recovery of global demand and the recovery of transport.
A more dynamic interchange
Chinese exports maintained their momentum in March, with rising oil prices bolstering imports. The volume of the trade balance recorded a 29.2% increase over the year to 8.47 trillion yuan (1.29 trillion dollars in the first quarter of 2021). Traditional sectors of the Chinese economy are starting to move again.
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A Reuters poll based on the assessments of 27 economists predicted a trade surplus of $ 52.05 billion in March, after a surplus of $ 103.25 billion in the first two months of the year. Exports, on the other hand, were given an increase of 35.5% in March compared to a year earlier.
Covid has had heavy effects on foreign demand for goods, but thanks to the efforts in carpet vaccination the picture is changing for the better.
The recovery of American factories
There are elements to evaluate what’s around the corner. Indeed, factory activity in the United States also picked up in March, amid strong growth in new orders, and monthly euro area factory activity growth was also faster than ever. .