As humanity is stormed by the fourth pandemic wave, China’s economy revives

China manages to keep its economy away from the shocks caused worldwide by the fourth pandemic wave. Official figures from Asians on the economic front show that the country has recovered very well after the pandemic crisis, but has not completely escaped the dangers and is about to endure harder times in the coming period.

China’s exports grew at a slightly faster pace in September, while demand for imports of iron ore and other commodities fell. All this is happening as the housing boom has slowed and the authorities have imposed restrictions on energy consumption.

Customs data showed that exports increased by 28.1% to $ 305.7 billion. This was slightly faster than the 26% increase recorded in August and above economists’ forecasts. They estimated a much smaller advance of only 21%.

According to analysts, Chinese exports have pressed the accelerator pedal.

â € œExports continued the accelerating trend, even after the impact of the base effects was omitted. The strength of exports could be driven by early deliveries of holiday consumer goods in the context of global supply chain disruptions, ”said Erin Xin, an economist at HSBC.

Imports increased 17.6% to $ 240 billion, less than the 33% increase from the previous month.

China’s global trade surplus rose to $ 68 billion in September from $ 52 billion in August. This was the highest level since 2015.

It also seems that the Chinese’s economic progress will not be endless. Economists believe that growing global demand for Chinese goods will shrink with the easing of anti-Covid controls and the reopening of the entertainment, travel and other services industries.

In this sense, the recent data show a slowdown in production. The Composite Purchasing Managers (PMI) indicator in China, which measures activity in the industry, contracted unexpectedly in September.

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