company news about Value of exports from China by month 2020 (Jan to Nov)

Value of exports from China by month 2020 (Jan to Nov)

In November 2020, Chinese exports amounted to around 268.1 billion U.S. dollars. This indicated an increase in exports compared to the same period of the previous year. In November, China's export rise by 21.1%, and the monthly trade surplus reached US $75.42 billion, rise by 102.9 % in November.

Top Five trade partners: ASEAN, the European Union, the United States, Japan, South Korea, all sustained, the growth of foreign trade has reached its highest level since 1981.

Abnormal Phenomenon During the Trade War

China overtook the United States as the world’s largest trading nation in 2013 when China’s export value of goods hit a record high of roughly two trillion U.S. dollars. According to the IMF, China’s total gross domestic product (GDP) had ranged at over nine trillion U.S. dollars that year. Thus, exports of goods had accounted for more than 24 percent of China’s total economic output in 2013. Meanwhile, China’s trade surplus amounted to 259 billion U.S. dollars and surged to a record high of 594 billion U.S. dollars in 2015.

Since the implementation of various reform strategies in 1979, China’s economic development has largely profited from its export-led growth strategy. In 2019, the most important export partners for China were the European Union and the United States. Automatic data processing machines, textiles, and mobile phones were among China’s top export goods.

But during the Trade War, how does China also makes the economy go faster? maybe the below reasons:

Corona Virus: Caught up in the epidemic, countries with weak manufacturing industries have to rely entirely on Chinese manufacturing, in part contributing to the stunning figures for foreign exports.

2.Entire Industrial Chain: China’s complete industrial chain advantage, the epidemic, the original industrial chain was interrupted, in addition to Chinese suppliers, customers have no choice.

3. Manufacturing Hollowing: Manufacturing in the United States and Western Europe moved to China.

But from last month, we think that all Chinese Suppliers with the hard problem of shipping, difficulties in booking shipping space by the sea, because of the Corona Virus, every container arrives the seaport need be checked, and some shipping companies reduce the containers and vessel. In this hot season, we also face challenges.

Fortunately, Geehe's products are delivered by Air or Internation Express, their turnover and arriving time is faster than sea freight, which helps customers and us save much time. In the 2020 year, our factory sales amount increased by 28 % compared with the 2019 year, that is an amazing statistic to us, we thank you for all old and new customers support and trust.

Our Fiber Optic products also widely used for some industries, if you have any demands, welcome to contact us for details. From December, we put more people and put the new production line to increase the capacity.

The MPO cable and fiber patch cord demand increase too much from October.

So the next year，we still have big potential to do well.

The future is in sight, keep going.