Strong Recovery in Global Trade(1)


Strong recovery in global trade(1)

Thanks to the accelerated recovery of the economy, global trade has recently seen a wave of strong growth.

According to the latest data from Japan, Japan's exports in May increased by 49.6% year-on-year, which is the third consecutive month of growth, and the growth rate was also 7% compared with the same period in 2019. Among them, exports to the United States increased by 87.9%, and exports to the EU increased by 69.6%. Due to China's strong demand for semiconductor manufacturing equipment, automobiles and raw materials, Japan's exports to China increased by 23.6%, an increase of 11 months in a row. China continues to be Japan's largest export market.

South Korea's exports in the first 10 days of June increased by 40.9% year-on-year. Among them, exports of passenger cars more than doubled, and exports of petroleum products and semiconductors also increased by more than 30%.

In China, the total value of imports and exports in May increased by 26.9% year-on-year, the growth rate accelerated by 0.3 percentage points from the previous month, and an increase of 20.8% from the same period in 2019. According to officials, China's imports and exports, exports, and imports from January to May increased by 28.2%, 30.1%, and 25.9% year-on-year, respectively, setting the highest levels in the same period in 10 years.

The trade recovery is not limited to Asian countries. US exports in April reached US$205 billion, an increase of 1.1% from the previous month. Among them, exports to China reached 13.1 billion U.S. dollars, an increase of 8.3% month-on-month. Germany's April exports increased by 47.7% year-on-year, imports increased by 33.2%, and a trade surplus of 15.5 billion euros. UK exports in April increased by 9.3% year-on-year and 2.5% month-on-month.

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