• Privacy Policy
  • About Us
  • Contact Us
  • Home
  • Business
  • Computers
  • Gear
  • Real Estate
  • Review
  • Technology
No Result
View All Result
  • Home
  • Business
  • Computers
  • Gear
  • Real Estate
  • Review
  • Technology
No Result
View All Result
Cartographeum
No Result
View All Result

‘Shipments to China driving export recovery’

Juliet Woodard by Juliet Woodard
August 22, 2020
Home Business
Share on FacebookShare on Twitter

The improvement in the country’s export numbers in July was led by a 78% spike in shipments to China and other Asian economies that had successfully contained the pandemic, Crisil said in a report. These destinations constitute 16% of the overall exports basket.The contraction in exports narrowed to -10.2% in July from -60.2% in April when India was under a strict lockdown due to the COVID-19 pandemic.Contraction in shipments improved to 50% in May and 30% in June. “While July shipments to China jumped a full 78%, the same to Malaysia jumped 76%, Vietnam (43%) and Singapore (37%). East Asian economies constitute 16% of our export basket,” Crisil said on Friday. “Exports are flowing back to economies that have checked the affliction. That explains why exports to certain economies are looking up, while overall exports are still declining, though at a slower pace,” according to Crisil house economists DharmaKirti Joshi and Pankhuri Tandon.In contrast, exports declined to Western economies such as the U.S., Brazil and Britain which saw a much higher caseload and were struggling to control it, they argued. While exports to the U.A.E plunged -53.2%, the same to to Britain contracted by 38.8%, and to the U.S. was a -11.2% and to Brazil at -6.3%. This means that export prospects for this fiscal will pivot on the trajectory of the pandemic across countries. It will rise to those countries which have controlled their caseload and restarted activity. China is a case in point, as it entered and controlled the pandemic much earlier than others. As a result its economy grew 3.2% in the June quarter, in contrast to sharp declines reported in other major economies. A closer look at the export numbers show that the growth is led by industrials and agri items — iron ore over 63%, rice close to 33%, spices 23%, organice and inorganic chemicals over 19%, fisheries 11% and pharma close to 10%. Significantly, inward shipments from China have been contracting massively since the beginning of the year reaching -60% in June bringing down trade deficit with the world’s largest exporting nation to around $10 billion in June from close to $50 billion in January.

You have reached your limit for free articles this month.
To get full access, please subscribe.
Already have an account ? Sign in

Show Less Plan

Subscription Benefits Include

Today’s Paper
Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Faster pages
Move smoothly between articles as our pages load instantly.

Unlimited Access
Enjoy reading as many articles as you wish without any limitations.

Dashboard
A one-stop-shop for seeing the latest updates, and managing your preferences.

Personalised recommendations
A select list of articles that match your interests and tastes.

Briefing
We brief you on the latest and most important developments, three times a day.

*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.

Tags: china exportschinese shipmentsexport recoveryexportsindia-china
Juliet Woodard

Juliet Woodard

Next Post
Nokia C3 With HD+ Display, 3,040mAh Battery May Launch in India Soon: Report

Nokia C3 With HD+ Display, 3,040mAh Battery May Launch in India Soon: Report

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended.

Amazon Fresh Grocery Store Opens in Los Angeles as the Company Builds Offline Presence

Amazon Fresh Grocery Store Opens in Los Angeles as the Company Builds Offline Presence

August 28, 2020
Jio May Launch Android-Powered Low-Cost Phone in December: Report

Jio Grows to 40.56 Crore Subscribers, Adding 73 Lakhs in Q2 2020

October 30, 2020

Trending.

Navigating Online Marketplaces? 12 Tips For Real Estate Newbies

Navigating Online Marketplaces? 12 Tips For Real Estate Newbies

January 13, 2021
Brookfield to buy 18% of RMZ’s assets for $2 billion

Brookfield to buy 18% of RMZ’s assets for $2 billion

October 19, 2020
Rock Legend Gene Simmons Kisses His California Estate And High Taxes Goodbye

Rock Legend Gene Simmons Kisses His California Estate And High Taxes Goodbye

November 1, 2020
Cooperative NAFED floats bids for supply of 15,000 tonnes of imported red onions by Nov 20

Cooperative NAFED floats bids for supply of 15,000 tonnes of imported red onions by Nov 20

October 31, 2020
NPPA caps price of liquid medical oxygen, medical oxygen cylinders

NPPA caps price of liquid medical oxygen, medical oxygen cylinders

September 26, 2020

Cartographeum brings you the latest information about Tech,Real Estate & Business.

Follow Us

Categories

  • Business
  • Computers
  • Gear
  • Real Estate
  • Review
  • Technology
  • Uncategorized

Tags

Amazon Apple Watch 2 Best iPhone 7 deals Bombay stock exchange BSE Business Buying Guides china closing trade coronavirus COVID-19 currency dollar rate economy Finance Ministry foreign exchange forex gold india indian economy Indian stock market Industry iOS 10 lockdown luxury homes market and exchange markets nifty Nirmala Sitharaman NSE oil pandemic Playstation 4 Pro rbi real estate Reserve Bank of India rupee rupee rate Rupee value rupee vs dollar sensex Sillicon Valley stock exchange Stocks USD

Recent News

From Benchwarmer To $13 Billion

From Benchwarmer To $13 Billion

January 23, 2021
Holmby Hills Estate With Scores Of Hollywood Ties Seeks $58 Million

Holmby Hills Estate With Scores Of Hollywood Ties Seeks $58 Million

January 23, 2021
  • Privacy Policy
  • About Us
  • Contact Us

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Review
  • Computers
  • Gear

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.