China can get world domination in global supplies. The Customs Office of the country reported a sharp increase in imports and exports, and economists predicted a positive effect for Chinese goods due to the emergence of an Omicron strain of coronavirus. The data published Bloomberg.
According to the country’s customs service, exports increased by 22 percent compared with last year and amounted to almost $ 326 billion. Import has grown almost 32 percent to 254 billion dollars. At the same time, economists predicted export growth by 20.3 percent, and imports by 21.5 percent. So, the turnover in November 2021 grew faster than expected, showing record results. Such a situation arose as a result of sharply increased external demand for Chinese products against the background of the approach of New Year’s holidays. Also partially recovered the work of enterprises in the country after stops due to the lack of electricity.
The largest importers of Chinese goods in November were the United States, the European Union and the State of Southeast Asia. At the same time, exports to the United States grew by 28.3 percent, and the import of American goods to China increased by 36.9 percent. The global demand for Chinese goods remains high throughout the entire pandemic. If the distribution of the omicron strain of coronavirus will cause serious consequences, other countries will begin to introduce restrictions again. This, in turn, will have a positive effect on the export of goods from China, the economists surveyed by the Agency. In particular, the in demand will be the means of individual protection and the device necessary for work from the house.
“Exports increased in November, this suggests that the external demand is still stable enough,” the Société Générale Group in Hong Kong is noted in Hong Kong Michel Lam. According to her, an unexpected import growth was caused with the restoration of the supply of raw materials for the production of goods, investments in the infrastructure of enterprises were also increased, which stimulated local authorities.
In addition to the sphere of trade, China claims leadership in the field of green energy and creating renewable energy sources (WEI). Earlier, the International Energy Agency (IEA) reported that in 2021 the PRC became the world leader in implementing WEI, and by 2026 the country will reach 1200 the gigavatt of wind and solar power. In addition to China, the main drivers of the green energy growth will be the countries of Europe, as well as the United States and India.