11,172.75 TRY BIST 100 BIST 100
4.56 CNY CNY CNY
33.00 USD USD USD
35.93 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
42.17 TRY Interest Interest
82.37 USD Fossil Oil Fossil Oil
28.80 USD Silver Silver
4.15 USD Copper Copper
103.01 USD Iron Ore Iron Ore
382.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,530.70 TRY Gold (gr) Gold (gr)

China's export decline

China's exports fell sharply in March due to lower prices of Chinese products in the world's second-largest economy.

China's export decline

China's exports fell sharply in March due to lower prices of Chinese products in the world's second-largest economy. The value of China's exports fell 7.5 percent in March from a year earlier, and the value of imports fell 1.9 percent.


According to the reports, the decrease in the value of exports occurs while the volume of exports has increased. That adds to the challenges Beijing faces as it turns to manufacturing and trade to pull the economy out of a deep recession caused by a slowdown in the property sector.
The most intense price competition occurs in the area of advanced technology for the production of vehicles, solar panels, wind turbines. Seasonal factors due to the spillover effects of China's February Lunar New Year holiday may also have played a role in March's lower-than-expected year-on-year export figure, according to Hui Shan, chief economist at Goldman Sachs China.


Beijing faces growing accusations from the United States and Europe that its industries are oversupplied. China's trading partners want Beijing to stimulate domestic demand to fill the gap left by the real estate sector, which once accounted for nearly a third of GDP. But Chinese officials have launched a campaign in recent weeks to refute Western claims of overcapacity, saying their exports are driving down prices and gaining market share due to innovation and competitiveness.
The country's low prices are good for consumers around the world and help governments fight inflationary pressures, but mean more competitive pressure for exporters in other countries.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In
SteelRadar Insight - Sayı 1 (Haziran 2024)

Most read news

Ukrainian Railways increased cargo transportation by 28% in the first half of 2024

Tuesday, July 23, 2024

The decline in global steel prices pushes India into the import market

Tuesday, July 23, 2024

MMK announced its operating results for the 2nd quarter and 6 months of 2024

Tuesday, July 23, 2024

ArcelorMittal Poland closes coke battery in Krakow

Tuesday, July 23, 2024

Made in Steel 2025: Steel industry is shaping the future!

Monday, February 26, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now