China reports record high trade surplus in November
In the first 11 months of the year, China’s total trade with the EU increased 8.9% to reach 3.43 trillion yuan ($556 billion), while trade with the United States rose 5.2% to 3.09 trillion yuan ($501 billion). The country’s trade with Japan declined 0.7% to 1.75 trillion yuan ($284 billion) while its trade with ASEAN countries (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam) was up 7.1% to reach 2.66 trillion yuan ($431 billion) in November.
In the third quarter of this year, the country’s gross domestic product (GDP) rose 7.3% and the government forecasts that the economy will grow by 7.5% this year. However, analysts stated that China’s economic growth may fall below the government’s target due to weaker domestic and external demand.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Will PE supplies from China flock to SEA?
- LDPE, LLDPE highest since Q3 2018; HDPE at 6-month high in Europe
- Intensifying trade war adds to bearishness in China’s local PP, PE markets
- PET prices hit multi-month lows in Asia and Europe
- Rising momentum fizzles out in European PS, ABS markets
- European PVC offers to Turkey shrug off higher costs
- Asian PVC players hold firm expectations for June
- May PP, PE offers to Mid-East, Africa remain stable to firm
- Global energy producers report lower Q1 results amid volatile crude prices
- China’s Q1 polymer imports set a new record near 6 million tons