Exporters take heart from signs of Europe, US rebound

0 Comment(s)Print E-mail China Daily, August 16, 2013
Adjust font size:

Unexpected economic strength in the eurozone and United States in the second quarter has positive implications for China and other emerging countries.

The rebound may support demand in the global markets in the second half of the year and lead th e indebted eurozone out of recession, analysts said, but the recovery won't be a smooth one.

The eurozone's GDP rose 0.2 percent in the second quarter, compared with the first, exceeding market expectations. GDP contracted 0.3 percent in the first quarter, according to the European Union statistics office.

European Central Bank President Mario Draghi said last week that the latest statistics show that the eurozone has emerged from its most serious recession, and he anticipated stable economic conditions in the future.

Meanwhile, real US GDP grew 1.7 percent quarter-on-quarter in the first three months, above the market's expectation of about 1 percent.

"I'm looking forward to seeing a quick recovery of the economy in the US and Europe, which can help my company get through its toughest times," said Pan Xiansheng, the owner of Yiwu Liansheng Glass Co Ltd, which sells many of its products overseas.

Yiwu Liansheng's export orders fell in the first half, and the gross profit margin narrowed from 20 percent previously to about 10 percent so far this year,

To minimize expenses, the company shut some production lines starting in May, said Pan.

China saw improved trade data in July, with 5.1 percent year-on-year growth of exports and a 10.9 percent increase in imports. In June, exports dropped 3.1 percent, while imports only rose 0.7 percent, according to the General Administration of Customs.

Wang Tao, chief economist in China at UBS AG, said: "The renewed life in external demand could provide important support to China's economic growth in the second half, helping the government to achieve the 7.5 percent growth target for this year".

She forecast a modest quarter-on-quarter rebound in the third quarter.

Ye Mingchun, the manager of Zhejiang Tianyiqi Shoes, based in Taizhou, Zhejiang province, said falling export volumes among trading companies over the past seven months reflected sluggish global demand.

"But I've seen modest new signs of export growth since June, which probably was an indication of an improving external economic environment - or maybe just a boost from Christmas orders," said Ye.

Ye's company achieved slight profit growth in the first quarter, but it couldn't make up for the huge losses in the past year.

However, as economic imbalances and debt issues persist in the eurozone, and countries including Spain and Greece are still mired in a recession, the economic recovery may not be so fast, analysts said.

Byron Wien, an economist at Blackstone, still worries about the US economy in the second half, although he agrees with the average forecast that the US may achieve 2 percent GDP growth this year.

"The US economy is suffering from a lack of demand ... and there are also structural problems in employment," Wien said.

"The measured global recovery is putting a ceiling on how fast Chinese exports can grow," said Alaistair Chan, an economist from Moody's Analytics.

"But manufacturers continue to point to a lack of export demand in purchasing manager surveys. While the worst seems to be over, the upturn will be relatively flat," said Chan.

Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter
主站蜘蛛池模板: 国产口爆吞精在线视频| 天堂网在线最新版www| 亚洲一区二区三区国产精华液| 看**视频一级毛片| 国产jizzjizz视频全部免费| 黄瓜视频在线观看| 国产精品VA无码一区二区| 欧美老少配xxxxx| 在线播放黄色片| 一个人看的日本www| 无人码一区二区三区视频| 久久电影www成人网| 极品丝袜老师h系列全文| 亚洲日本一区二区三区在线不卡| 狠狠精品干练久久久无码中文字幕| 动漫美女被吸乳羞羞网站动漫| 色偷偷人人澡人人爽人人模| 国产传媒在线观看视频免费观看| 欧美亚洲国产激情一区二区| 国产精品国三级国产aⅴ| 91国内揄拍国内精品对白不卡| 大学生情侣在线| h国产在线观看| 女人张开腿无遮无挡图| 一级毛片视频免费| 成人国产一区二区三区精品| 中文字幕在线观看2020| 无翼日本全彩漫画大全全彩| 久久久久无码精品国产不卡| 日韩aⅴ人妻无码一区二区| 久久青青成人亚洲精品| 最猛91大神ben与女教师| 亚洲av永久无码精品三区在线| 欧美一级黄色片免费看| 亚洲啪啪综合AV一区| 欧美性大战久久久久久| 亚洲小说区图片区另类春色| 欧美日韩国产另类一区二区三区| 亚洲第一成年人网站| 波多野结衣的av一区二区三区| 亚洲综合久久精品无码色欲 |