China’s trade registered a contraction of 8.3 % in the months of January and February as a result of the slowdown in activity worldwide and weaker domestic demand, according to data from the General Administration of Customs of the Asian giant.

The volume of China’s trade in the first two months of 2023 totaled 895,717 million dollars (840,485 million euros), which represents a decline of 8.3% compared to the same period of the previous year.

Chinese exports totaled 506,300 million dollars (475,081 million euros), which represents a drop of 6.8 %, while foreign purchases from the Asian giant reached a total value of 389,420 million dollars (365,408 million euros). , a figure that represents a drop of 10.2 % in the year-on-year comparison.

Thus, in the first two months of 2023, China registered a trade surplus of 116,890 million dollars (109,682 million euros). “China’s import volumes were little changed at the start of the year, disappointing hopes for a rebound. But we still believe the reopening will eventually fuel a rebound in imports,” said Zichun Huang, China economist at Capital Economics consultancy.

“Although exports fared better than feared, they may fall again before long as momentum from the end of virus restrictions fades and cooling foreign demand remains a drag.” he added.

On the other hand, information from the General Administration of Customs of China revealed that during the first two months of the year, China’s trade with the European Union decreased by 10, to 123,359 million dollars (115,752 million euros).

Exports from China to the EU and other countries

Chinese exports to the EU fell 12.2 %, to 80,098 million dollars (75,159 million euros), while imports fell 5.5 %, to 30,278 million dollars (40,592 million euros).

In the case of the United States, trade with China between January and February totaled 101,847 million dollars (95,567 million euros), 17.4 % less, with a drop of 21.8 % in Chinese exports, up to 71,570 million dollars (65,157 million euros) and a 5 % drop in imports, up to 30,278 million dollars (28,411 million euros).

On its side, in the first two months of 2023, the Asian giant increased its trade with Russia by 25.9 %, up to 33,685 million dollars (31,608 million euros). China increased its exports to Russia by 19.8 % annually, up to 15,036 million dollars (14,109 million euros), while imports from Russia reached 18,649 million dollars (17,499 million euros), 31.3 % more.

Source: dpa

(Reference image source: Unsplash, in collaboration with Casey Horner)

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The year-on-year inflation rate in the United States maintained its downward trend during the month of November, settling at 7.1 %.

The data published by the Bureau of Labor Statistics (BLS) place inflation for November six tenths below that of October, and in the midst of expectations of a new increase in interest rates due to the Federal Reserve.

Regarding “core inflation, which excludes food prices, it stood at 6 % in its year-on-year rate.” According to the BLS, housing sector spending rose 0.6%, energy stood at 1.6 %, and food prices half a point in the month.

On the other hand, there was a slowdown in the increase in the price of energy, which currently stands at 13.1 %. The cost of gasoline, which is affecting consumers considerably, is now 10.1 % more expensive than in November 2021.

On a new increase in interest rates, Jerome Powell hinted on November 30 that the next increase will be 0.5 points instead of 0.75 as those that have been approved in recent months.

M.Pino

Fuente: lanacionweb

(Photo: semana.com. via web)

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Amid the fluctuation in the price of Bitcoin, and other cryptocurrencies, the president of El Salvador, Nayib Bukele, announced this Wednesday the purchase of a daily Bitcoin.

Bukele, who had not made announcements related to the purchase of the cryptocurrency since July, announced the daily purchase of one unit of the main cryptographic currency in the market, whose price maintains a downward trend.

Through his account on the social network Twitter, Bukele announced the measure that has been in force since November 17, which strengthens the adoption of Bitcoin as the official currency of commerce in the Central American country.

Since 2021, the government of El Salvador maintains the periodic purchase of Bitcoin. In May, he bought 500 cryptocurrencies for a total of $15.3 million; and in July he acquired 80 BTC at $19,000 each.

Nayin Bukele maintains his enthusiasm for the adoption of Bitcoin in the country, despite strong criticism from his adversaries and warnings from the International Monetary Fund.

M.Pino

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Source: elmundo.sv

La entrada El Salvador will buy a Bitcoin a day apareció primero en Bitfinance.