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Tag: exports

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Iran exports $27b of non-oil products in 8 months

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“Increasing non-oil exports to the neighboring countries is one of the major plans that Iranian government is pursuing in the current Iranian calendar year (began on March 21)” reports tehrantimes.com. As previously announced by IRICA, the value of Iran’s non-oil exports stood at $44.3 billion in the previous Iranian year, while $42.6 billion worth of commodities were shipped into the country.The IRICA’s data put the weight of the country’s non-oil exports at 88 million tons during the mentioned time span, which indicates a 16-percent rise from the figure of the…

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German exports rise in October, imports flat

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“German exports were up 1.2% in October from September in adjusted terms, while imports remained flat on the month, the statistics office said” writes Maria Martinez for marketwatch.com. Exports totaled EUR119.5 billion, while imports amounted to EUR98.0 billion, both in adjusted terms.Germany’s trade surplus–the balance of exports and imports of goods–totaled 20.6 billion euros ($22.8 billion) in calendar and seasonally adjusted terms in October, according to Destatis.Economists had forecast a 0.3% decrease in exports in adjusted terms, according to a Wall Street Journal poll. Source: marketwatch.com

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News Stocks 

Asia stocks mixed as China’s exports decline in November

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“Asia stocks traded mixed Monday morning as China’s exports declined in November for the fourth consecutive month, according to the country’s customs data” writes Eustance Huang for cnbc.com. The latest print on Chinese trade comes as Beijing remains embroiled in a trade war with Washington.Mainland Chinese stocks dipped in early trade, with the Shanghai composite down about 0.2%.Elsewhere, the Nikkei 225 in Japan rose 0.22% in morning trade while the Topix index gained 0.25%.Imports, on the other hand, rose 0.3% as compared to a year earlier — exceeding projections for…

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Markets News Oil 

Oil prices stumble on weak China exports hangover

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“On Friday, those producers agreed to deepen their output cuts from 1.2 million barrels per day (bpd) to 1.7 million bpd, representing about 1.7% of global production” writes Midwest Communications Inc for 95kqds.com. Drilling companies cut five oil rigs, leaving a total of 661, the lowest since April 2017.The sagging export data is “a casualty again of the protracted trade war,” said Stephen Innes chief Asia market strategist at AxiTrader. Source: 95kqds.com

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Japan upgrades third quarter GDP as consumer, business strength absorbs hit from trade

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“Net exports – or exports minus imports – subtracted 0.2 percentage point from revised GDP growth, while domestic demand added 0.6 percentage point” writes Midwest Communications Inc for 95kqds.com. Analysts already expect the economy to shrink in the current quarter due to the sales tax hike.The stronger growth marked the fourth consecutive quarter of expansion and also beat economists’ median forecast for a 0.7% gain.A gloomy set of data, including worse-than-expected October household spending and retail sales figures, suggests the hit to consumption from the sales tax hike may be…

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China November exports unexpectedly fall, but imports rebound

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“China’s trade surplus for November stood at $38.73 billion, compared with an expected $46.30 billion surplus in the poll and a $42.81 billion surplus recorded in October” writes Midwest Communications Inc for 95kqds.com. One Chinese official told Reuters that China will implement its own tariffs as a countermeasure under such circumstances, which may dash any chance of a near-term trade deal. Source: 95kqds.com

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China’s November exports seen up modestly, but Sino-U.S. trade still major risk: Reuters poll

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“Beijing and Washington remain locked in weeks of negotiations to ink an interim “phase one” trade deal aimed at de-escalating the 17-month-long dispute that has led to tit-for-tat tariffs” writes Midwest Communications Inc for 95kqds.com. The trade row between the world’s two biggest economies has weakened corporate profits, investment and global growth.”Then, the markets could repeat the massive meltdown as happened in last December as President Trump kept up pressure on trade issues.”. BEIJING (Reuters) – China’s exports are expected to have risen for the first time in four months…

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AUD News 

Australia retail sales stagnate, exports skid in bleak start to fourth-quarter

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“Extending a spate of soft reports, retail sales were flat in October at A$27.6 billion ($18.73 billion) when analysts had looked for a 0.3% gain” writes Midwest Communications Inc for 95kqds.com. Gold exports fell another A$666 million, though this is a volatile component as shipments vary widely month to month.Adelaide Timbrell, an economist at ANZ, noted the sales surge that used to come in Christmas has been on the wane.Yet even they hit a bump in October as a 5% drop in exports shrank the country’s trade surplus by a…

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AUD News 

Australia surplus boosted by gold demand

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“Heightened geopolitical risk drove up demand for gold exports, the Australian Bureau of Statistics said” writes James Glynn for marketwatch.com. The surplus was helped by a strong iron ore price and increasing gas exports.SYDNEY–Australia’s current account was in surplus for a second consecutive quarter, supported by strong gold prices, expanding exports and a fall in the Australian dollar to its lowest levels in a decade. Source: marketwatch.com

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South Korea November exports plunge as China-U.S. deal still in dark

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“South Korea’s economy, the fourth-largest in Asia and heavily dependent on exports, has been hit especially hard by cooling global trade and a prolonged tariff war between China and the United States” writes Midwest Communications Inc for 95kqds.com. SEOUL (Reuters) – South Korean exports in November fell for the 12th month in a row and far more than expected, denting hopes for the global manufacturing sector stabilizing as a much-awaited China-U.S. trade deal is still in darkness.The surprisingly weak November data from a manufacturing powerhouse, which reports monthly trade data…

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