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China’s exports rise, but demand slows down is predicted in year 2021

12 Jan 2021

By Ashley Kao  Photo:Hanny Naibaho,Link:Unsplash

China’s exports continued to rise and getting more pressure on freight markets. China reported 21.1% export growth in US dollar terms in November, exports to the EU and US drove the expansion business rising 25.9% and 45.5%. China’s exports speed every month since June last year, in exports of PPE and WFH electronics products, especially higher demand for the later holiday season.

However, analysts expect changes in consumer spending habits, decreased the PPE and WFH products exports in recent months rotation as vaccine availability reduces the need for social distancing, helping to relieve some pressure on ocean and air supply chains in the process.

As reported by Lloyd’s Loading List, the soaring exports from China is causing severe port congestion in parts of Europe and the US and a severe shortages of containers globally. It pushed spot freight rates are up +77% since October and Asia-Mediterranean rates rise to 60% high.

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