China: Exports surged in March – UOB – by pabspiovano China TradeBalance Banks
Key Takeaways
“In volume terms, China’s imports of commodities such as crude and refined petroleum, LPG, coal and iron ore were strong compared to the year-ago period which is an indication of inventory rebuilding, pick-up in construction activity and concerns over energy shortages particularly as domestic demand rebounds. Commodity imports are expected to continue benefiting from domestic demand recovery and stronger construction activities ahead.
“Overall, we maintain our forecast for China’s export to register a contraction of 3.0% this year while imports may see a small gain of around 2.0% in 2023 as domestic demand recovers.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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