June 8 Trade Risk Alert
Release time:
2020-06-09 11:07
Source:
Canada's foreign trade deficit doubled in April from the previous month.On June 4, Statistics Canada announced that, under the impact of the new crown epidemic, Canada's foreign trade deficit increased to C $3.3 billion in April, more than twice the 1.5 billion's foreign trade deficit in March. Exports fell nearly 30% month-on-month in April to about 32.7 billion yuan, the lowest level in more than a decade. Imports fell about 25 per cent month-on-month to $35.9 billion, the lowest since February 2011. The Canadian Bureau of Statistics stated that the decline in foreign trade imports and exports was "unprecedented" in terms of absolute value and percentage ". (China Economic Net)
The Canadian province of British Columbia lost more than 350000 jobs due to the outbreak.On June 5, Statistics Canada released its latest monthly labor force survey, showing that British Columbia's unemployment rate rose 1.9 to 13.4 percent in May from April, slightly below the national average of 13.7 percent. The province entered the second phase of economic restart in the second week of May, with 43300 new jobs in the province that month. (Xinhua News Agency)
More than 30% of crude oil production in the Gulf of Mexico was shut down due to tropical storms.On June 6, the U.S. Bureau of Safety and Environmental Enforcement said that before tropical storm Cristobal made landfall, crude oil and natural gas producers in the Gulf of Mexico had shut down 33 percent of their offshore crude oil capacity and 31.5 percent of their natural gas capacity, evacuated 174 manned production platforms, and shut down 616000 barrels per day of crude oil. According to the U.S. Department of Energy, crude oil platform capacity in the Gulf of Mexico accounts for about 16 percent of total daily U.S. crude oil production and 2.4 percent of total natural gas production. In addition, more than 45% of U.S. refining capacity and 51% of natural gas processing capacity are located in the Gulf of Mexico. (Financial Network)
The EU-China summit will be postponed.The Echo recently reported that a few days ago, EU President Merkel, Chinese President Xi Jinping and European Council President Michel reached an agreement that the China-EU summit originally scheduled for September 14 this year in Leipzig, Germany, will be postponed. (Ministry of Commerce website)
Estonia will carry out large-scale testing of passengers arriving at ports and airports.Estonian media reported that Estonia is planning to implement a new coronavirus antibody test for every passenger arriving at Tallinn port or airport. The time of large-scale testing is from June 8 to June 21. The test time at the port is from 11 am to 5 pm and at the airport from 10 am to 4 pm. (Ministry of Commerce website)
Bulgaria's unemployment rate jumps to 6.2 percent in April.The unemployment rate in Bulgaria rose to 6.2 percent in April from 4.5 percent in March, according to data released by Eurostat on June 3. In April, Bulgaria's youth unemployment rate was 9.5 per cent, with about 14000 unemployed under the age of 25; in March 2020 it rose to 13.3 per cent, about 21000, and in April 2020 it rose to 20.8 per cent, about 36000. (Ministry of Commerce website)
Iceland's decision to introduce border inspection fees.According to news on the website of the Icelandic central government on June 5, the Icelandic government today approved the proposal submitted by the Minister of Health on issues related to the cost of testing at the border, that is, starting from July 1, passengers arriving in Iceland will have to pay 15,000 (about US $110) Icelandic kronor if they choose to test Covid-19 at the airport instead of being quarantined for 14 days. (Ministry of Commerce website)
Pakistan's trade deficit falls:Pakistan's "Forum Express" reported on June 5 that the latest data from the Pakistan Bureau of Statistics showed that Pakistan's imports in May were US $2.85 billion, a decrease of 11.02 per cent from the previous month and a year-on-year decrease of 43.17 per cent; exports were US $1.39 billion, an increase of 45.35 per cent from the previous month and a year-on-year decrease of 33.64 per cent. The trade deficit was $1.46 billion billion in May, down 35.02 percent month-on-month and 50.02 percent year-on-year. In the first 11 months of the fiscal year, imports were $40.85 billion, down 18.96 percent year-on-year, and exports were $19.79 billion, down 6.87 percent year-on-year. The trade deficit totaled $21.05 billion billion, a year-on-year decrease of 27.77 percent. Imports in May were the lowest in a decade, mainly due to the fall in crude oil prices. Pakistan relies on imports for 70% of its oil. In recent months, the proportion of Pakistan's oil imports in total imports has dropped to 1/5. (Ministry of Commerce website)
Mongolia's January-May raw coal and crude oil exports fell 2.4 times and 4 times respectively over the same period.According to Mongolia's "www.ikon.mn" website, statistics from the General Administration of Customs of Mongolia show that in the first five months of this year, Mongolia's total exports were 3.37 billion US dollars, down 1.4 billion US dollars or 40% from the same period last year. Among them, the export volume of coal was 6.3 million tons, 0.513 billion US dollars, a year-on-year decrease of 2.4 times; the export of crude oil was 671000 barrels, a year-on-year decrease of 4 times; the export of fluorite was 237000 tons, a slight increase of 15000 tons. (Ministry of Commerce website)
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The company was founded in 1997, currently 4000 a variety of models of automobile brake discs. Products are mainly exported to Europe, North America, South America, Australia and other countries and regions. At present to SAIC, JAC, BYD, Jinlong, Yutong and other domestic models to provide supporting. The company's process equipment strength, Japan's new east automatic casting line 6, commercial vehicle brake disc automatic casting line 2. There are 56 processing lines -6 full-automatic one-word processing lines and 30 robot processing lines. Packaging cleaning line 5, spraying line 3.
Since the beginning of this year, the price of raw materials has risen sharply, sea freight has soared, and the difficulty of finding a box of shipping space has seriously plagued manufacturing companies. The current power curtailment has made companies even worse. Take our company as an example. Since the power limit in early September, the company's production capacity has dropped by about 50% on average every day. Exports have decreased by 0.02 billion yuan. The performance rate of orders in hand is about 50%. New orders were reduced by 10%. These data are the impact of the current power rationing on enterprises. If the power rationing situation is not alleviated, the impact on enterprises in the fourth quarter will be more serious.
Recently, Yunnan, Jiangsu, Qinghai, Ningxia, Guangxi, Guangdong, Sichuan, Henan, Chongqing, Inner Mongolia, Henan and other places have begun to carry out energy control measures to limit energy consumption.
The total power generation in 021 is not low. In the first half of the year, China's total power generation was 3871.7 billion kWh, twice that of the United States. At the same time, China's foreign trade has grown extremely fast this year. According to data recently released by the General Administration of Customs, in August, the total value of my country's foreign trade imports and exports was 3.43 trillion billion yuan, a year-on-year increase of 18.9 percent, achieving positive year-on-year growth for 15 consecutive months, further showing a steady and solid trend. In the first eight months, the total value of China's foreign trade imports and exports was 24.78 trillion billion yuan, up 23.7 percent year-on-year and 22.8 percent over the same period in 2019.
The impact of the neo-coronary pneumonia epidemic on global supply chains continues, with high international freight rates, container shortages and terminal congestion still unabated, and labor shortages exacerbating the dilemma. The outbreak of the new coronary pneumonia epidemic in 2020, due to the obstruction of international freight, soaring transportation costs, international trade in goods greatly hindered, triggering a supply chain crisis in many countries (regions), since 2021, the new coronary pneumonia virus variant strain raging, so that the supply chain has not yet fully recovered.
Statistics from the China Association of Automobile Manufacturers show that in the first seven months of 2021, China's cumulative automobile exports reached 1.002 million, an increase of 1.2 times year-on-year, but the month-on-month growth was only 9.8 percent, showing a shrinking trend. Moreover, commercial vehicle exports fell 11.6 percent month-on-month, of which new energy commercial vehicle exports fell 57.8 percent month-on-month. It is said that the main reason for the decline in automobile exports is the poor shipping channels.
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At present, 4000 a variety of models of automobile brake discs, brake drums with an annual output of 10 million pieces. Products are mainly exported to Europe, North America, South America, Australia and other countries and regions. At present to SAIC, JAC, BYD, Jinlong, Yutong and other domestic models to provide supporting.
At present, 4000 a variety of models of automobile brake discs. Products are mainly exported to Europe, North America, South America, Australia and other countries and regions. At present to SAIC, JAC, BYD, Jinlong, Yutong and other domestic models to provide supporting.
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