Exports from China, the world’s second-largest economy, fell in May for the first time in three months amid waning global demand for Chinese goods. Data published on June 7 by China’s General Administration of Customs showed that exports, which serve as the main source of foreign exchange for China, fell 7.5 percent year over year, to $283.5 billion, marking…
China’s Exports Declined by 7.5 Percent in May as Demand for Goods Wanes
South Korea’s Trade Deficit Has Lasted for Nearly a Year Due to China Trade Dependence
South Korea’s exports have been dragged down by China’s economic slowdown and import slump. The East Asian country has experienced a continuing trade deficit for nearly a year due to being heavily dependent on China for both imports and exports. In the first two months of this year, South Korea’s trade deficit has nearly reached…
South Korea’s Trade Deficit Has Lasted for a Year Due to China Trade Dependence
South Korea’s exports have been dragged down by China’s economic slowdown and import slump. The East Asian country has experienced a continuing trade deficit for nearly a year due to being heavily dependent on China for both imports and exports. In the first two months of this year, South Korea’s trade deficit has nearly reached…
Airbus Defense Arm Says Berlin Delaying Exports Worth Billions
MUNICH—Slow German government export approvals are holding up Airbus Defence & Space defense exports worth several billions of euros, the company’s chief executive said on Sunday, urging Berlin to speed up the process. “Several countries are interested in the [military transport plane] A400M. Unfortunately we are having difficulties to get the German export licenses on…
America’s Trade Deficit Surged in 2022, Nearing $1 Trillion
February 8, 2023
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Business & MarketsChinaChina Business & EconomyCompanieseconomic policieseconomyexportsimportsinflationMarketsPolicies & ImpactsU.S. trade deficitUSUS-China relationsWorld
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The U.S. trade deficit hit close to record levels in 2022, nearing a total of $1 trillion. American consumers continued to spend heavily on foreign-made goods last year, widening the overall trade deficit even further by 12.2 percent, or $103 billion, in 2021. As of the beginning of the year, the goods and services deficit now…
US Arms Exports Up 49 Percent in Fiscal 2022
WASHINGTON—Sales of U.S. military equipment to foreign governments rose 49 percent to $205.6 billion in the latest fiscal year, the U.S. State Department said on Wednesday. Sales approved in the year included $13.9 billion worth of F-15ID fighter jets to Indonesia, $6.9 billion worth of Multi-Mission Surface Combatant ships to Greece, and $6 billion worth…
Malaysia Says It Could Stop Palm Oil Exports to EU After New Curbs
KUALA LUMPUR—Malaysia said on Thursday it could stop exporting palm oil to the European Union in response to a new EU law that strictly regulates sale of the product. Commodities Minister Fadillah Yusof said Malaysia and Indonesia would discuss the law, which bans sale of palm oil and other commodities linked to deforestation unless importers…
China Trade Shrinks Amid Virus Pressure, Interest Rate Hikes
December 8, 2022
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Business & MarketsChinaChina Business & EconomyeconomiceconomyEuropeexportsimportsRussia-Ukraine WarWorld
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BEIJING—China’s imports and exports shrank in November under pressure from weakening global demand and anti-virus controls at home. Exports sank 9 percent from a year ago to $296.1 billion, worsening from October’s 0.9 percent decline, customs data showed Wednesday. Imports fell 10.9 percent to $226.2 billion, down from the previous month’s 0.7 percent retreat in…
US Aims to Double Gas Exports to UK Under Plans to Drive Down Energy Prices
The United States aims to double its gas exports to the UK under plans to boost energy security and drive down energy prices. U.S. President Joe Biden and UK Prime Minister Rishi Sunak announced on Dec. 7 that they have set up the “UK–U.S. Energy Security and Affordability Partnership,” a new high-level bilateral group to…
US Nitrogen Exports Jump as Europe Scrambles for Fertilizer
CHICAGO/LONDON—U.S. exports of nitrogen fertilizers jumped to a multi-year high this summer after surging natural gas prices in Europe drove up costs of producing the crop nutrient there, making U.S. shipments more competitive. The brisk U.S. sales highlight the effect of the war in Ukraine on global food and energy supplies. Russia, under financial sanctions,…
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