Home / Knowledge / News / Textiles / Foreign trade surplus expected to be strong in 2007

Foreign trade surplus expected to be strong in 2007

14
May '07
The imminent announcement of April trade figures may give the US and the European Union fresh excuses to force another round of RMB appreciation.

According to the latest figures released by the Forecast Science Research Center of Academy of Sciences, China's trade surplus will reach about $57.5 billion second quarter this year, a $10 billion rise compared with the first quarter.

The report predicts trade surplus will continue to increase in the third and the fourth quarters. It is expected to climb to $254.03 billion for the whole year, an increase of 42.8 percent.

China Economic Research Center of Beijing University on April 28 released another report saying trade surplus in second quarter will expand at about 5.4 percent higher than in imports. Trade surplus is estimated at over $240 billion during the year.

Academy attributes main reasons for China's trade surplus continuing to grow in 2007 to growing Sino-EU trade volume rise, same is expected for Sino-US trade with China's trade surplus expected to remain at a high level.

The report foresees that in 2007, China's trade surplus with the US, and EU will reach $178.2 billion and $128.6 billion, up 23 percent and 44 percent, respectively.

Excessively large trade surplus reflects the growth of Chinese economy on external demand. If the forecasts come true, the Central Bank will have to put in circulation RMB to hedge dollars, thus adding fuel to the increasing social funds.

This, added measures by the Central Bank will also be necessary on urgency basis, according to the reports.

Fibre2fashion, News Desk - China


Must ReadView All

Pic: Shutterstock/humphery

Textiles | On 18th Sep 2021

China wants to join CPTPP; Japan to consult members to respond to bid

Chinese commerce minister Wang Wentao recently submitted an...

Pic: Shutterstock

Textiles | On 18th Sep 2021

Eurozone GDP recovers quicker than expected after lockdowns: EU report

The eurozone economy recovered more rapidly than considered earlier...

Pic: Shutterstock

Apparel/Garments | On 18th Sep 2021

BGMEA urges Canadian buyers to source apparel from Bangladesh

Bangladesh Garment Manufacturers and Exporters Association (BGMEA)...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Occam's razor principle and purpose-driven innovations

Textile Industry, Head honchos

Textile Industry
Head honchos

Consistency is the first rule of social media

Textile Industry, Head honchos

Textile Industry
Head honchos

Delay in adopting water sustainability both financially & environmentally...

Gus Bartholomew,

Gus Bartholomew

<b>Gus Bartholomew</b>, co-founder of SupplyCompass, explains to <b>Subir...

Raiyan Islam,

Raiyan Islam

Founded in 1981 by Sayeeful Islam, Concorde Garments Group is a market...

Shambhu Nath Jha,

Shambhu Nath Jha

Leading research and consulting firm Fact.MR recently launched a report on ...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Abhishek Agarwal, Purple Style Labs

Abhishek Agarwal
Purple Style Labs

Late Indian fashion designer Wendell Rodricks, is known for his...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by <b>Aprajita Toor</b> were born out of a deep desire to...

Gaurang Shah, Label Gaurang Shah

Gaurang Shah
Label Gaurang Shah

Hyderabad based designer <b>Gaurang Shah</b>, has been traversing the...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search