exports Asian giant suffered in February worse collapse in seven years despite the weak yuan, according to official figures released Tuesday that increase pressure for the country to reorient the axis its growth to the internal market.
the data, which were worst than expected by analysts, also increase fears of a “hard landing” of the second world economy, just days after the government cut its growth expectations for 2016 and promised reforms to stimulate the activity.
Asian giant’s exports in February totaled 126,100 million, down 25.4% with respect to the same month of 2015, according to data released by the Chinese customs.
This is the lowest monthly billing from April 2009 at the height of the global economic and financial crisis. However, experts consulted by the agency Bloomberg News betting on a fall in exports much lower, 14.5 percent.
China is the main exporter of goods on the planet, but their businesses have been hit by the weakness of its major markets within a framework of low economic dynamism world.
as a result of this process, its own economy slowed, affecting large exporting countries raw materials and Australia and Brazil. a process that is reflected in the drop in imports Chinese, which in February recorded its 16th monthly contraction consecutive, 13.8%, totalizing 93,600 million. That figure is also worse than 12% decline expected by traders surveyed by Bloomberg .
Thus, China was in February, a trade surplus of USD 32,600 million, an decline of 46.2% compared to February 2014.
“the surpluses with major partners in the country have fallen “in the first two months of the year, said Chinese Customs
READ MORE.
exports of goods requiring labor-intensive, such as appliances mechanical and electrical suffered falls especially strong work, said that administration in a statement.
imports iron ore and oil increased in volume, but weighed less on the bill due to falling prices. Purchases of coal and steel instead fell also in volume. “Prices of major commodities imported fell sharply,” point Customs.
The trade data and other sectors of the economy ” suggest that the growth momentum continued to weaken in January-February, “said Zhao Yang, an analyst at Japanese financial group Nomura.
More pressures in view
measures fiscal stimulus taken by the authorities” can not fully offset the decline in real estate and industrial investments, “added Yang.
the Chinese markets Tuesday accused the blow of the new data, but soon restored. The Shanghai Stock Exchange closed with gains even 0.14%, having come to fall more than 2% during the session. Hong Kong also closed up 0.73 percent.
The new fall in exports (this is his eighth monthly drop in a row) occurs despite two devaluations of the yuan in August 2015 and January 2016. These depreciations fueled suspicions, rejected by Beijing, that is measures deliberate cheapen Chinese products.
The statistics will increase the pressure for further fiscal and monetary stimulus and “advocate against the wishes of maintaining the stability of the yuan,” said Michael Every, head of research at Rabobank Group, Hong Kong.
the Chinese premier Li Keqiang announced on Saturday that his country has set the goal in 2016 growth economic “between 6.5% and 7%” after growing 6.9% in 2015, the result lowest in a quarter century.
the communist dictatorship attributed the slowdown to a will to orient its growth model towards the development of domestic consumption services and new
to the detriment of investment and exports that sustained it so far.>
AFP
No comments:
Post a Comment