China said Tuesday that the United States has overtaken the European Union as its biggest export market, as the continent's debt crisis has sent demand slumping. "The biggest is the US and the EU is second," Commerce Ministry spokesman Shen Danyang told reporters at a regular briefing. "The EU used to be the biggest." China's exports to the United States in the first 10 months of this year totalled $289.3 billion, while shipments to the EU came to $276.8 billion, according to Chinese customs figures. Weak demand from both Europe and the US has been a big factor as China's economic growth has slowed over the past seven quarters to the end of September. Economic growth in the United States remains weak but is expanding, while the eurozone's debilitating debt crisis has dragged it back into recession. Shen also said the Association of Southeast Asian Nations had moved past Japan as China's third-biggest export market. Japan, which is in the midst of a diplomatic row with China that has hit trade between the two nations, slipped to fourth place.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor