June 12 Trade Risk Alert
Release time:
2020-06-12 17:50
Source:
The U.S. deficit doubled to $399 billion last month.June 10, United StatesFinanceMinistry announced last monthfiscal deficitYear-on-year doubling, 208 billion from the same period last yearUSDThe increase to $399 billion million was mainly due to a significant increase in spending on epidemic relief measures,TaxationSharp reduction in impact. During the period, income decreased by 25 per cent to $174 billion, of which personal income tax income decreased by 16 per cent,Enterpriseprofits taxdecrease of 62%. Expenditure increased by 30% to $573 billion. (Oriental Wealth Network)
Canadian manufacturing sales fall 9.2 percent in March .Recently, Statistics Canada reported that manufacturing sales fell 9.2 percent to $50.8 billion in March, the biggest drop since December 2008, as the COVID-19 pandemic caused factory closures or a sharp drop in demand. Statistics Canada also pointed out that this is the lowest level since June 2016, but in view of the ongoing crisis, sales are expected to continue to decline in April. (Ministry of Commerce website)
The outbreak continues to hit the Brazilian economy hard.According to data from Brazil's Ministry of Health on the 3rd, the country has now accumulated more than 580000 confirmed cases of new crowns, second only to the United States. In order to prevent and control the epidemic, Brazil has taken measures such as closing commercial sites, canceling a large number of flights and shutting down a large number of businesses, making the already fragile Brazilian economy even more difficult. Brazil's gross domestic product fell 1.5 percent month-on-month in the first quarter of this year, the biggest single-quarter decline since the second quarter of 2015, according to Brazil's National Geographic Statistics Bureau. The epidemic has also had a serious impact on the Brazilian labor market, with the unemployment rate rising from 11.2 per cent to 12.6 per cent between February and April this year, with 12.8 million million unemployed. (International Business)
Vale shut down three mining areas and iron ore production capacity was blocked.On June 5, Brazilian iron ore giant Vale, the world's largest iron ore supplier, was forced by a Brazilian court to suspend operations at the Itabila complex because 188 miners were infected with the new coronary pneumonia virus. It is understood that due to the impact of the epidemic, Vale has reduced the production of iron ore fines from 3.4-0.35 billion tons to 3.1-0.33 billion tons in 2020. The annual output of Itabila integrated mining area is about 0.0324 billion tons, accounting for about 10% of Vale's total annual production capacity. (China Times)
International Energy Agency: Global natural gas demand will decline by 4% in 2020.The Paris-based International Energy Agency recently released its 2020 Global Natural Gas Report on its website, saying that global natural gas consumption will fall by 150 billion cubic meters, or 4 percent, in 2020 due to the new crown epidemic and the warm winter in the northern hemisphere earlier this year. (Xinhua)
Lufthansa to cut 22000 jobs.Agence France-Presse news on June 11, Lufthansa said it will lay off 22000 people. The previous day, Lufthansa had estimated that there was a "surplus" of 22000 full-time positions or 26000 employees, indicating that the company would cut more jobs than the more than 10000 proposed a few weeks ago. (Interface News)
German exports fell the most in 70 years.According to data released by the German Federal Bureau of Statistics on the 9th, Germany's goods trade exports in April decreased by 31.1 compared with the same period last year, the largest decline since Germany began relevant records in 1950; imports decreased by 21.6 compared with the same period last year. German exports amounted to 75.7 billion euros in April, according to the Federal Statistical Office. On a weekday and seasonally adjusted basis, the April trade surplus was 3.2 billion euros. In April last year, Germany had a trade surplus of 17.8 billion euros. Compared with March this year, Germany's exports and imports fell by 24% and 16.5 respectively in April. Exports fell more than the industry expected, while imports fell in line with expectations. (Hainan Daily)
The Turkish government has imposed new additional tariffs on imported goods.Le Monde reported on May 11 that in order to reduce the negative impact of the epidemic on the Turkish economy and protect the import pressure faced by domestic industries, after imposing additional tariffs on more than 3000 kinds of imported goods on April 21, the Turkish government once again imposed a surtax of 30% on more than 400 kinds of goods including jewelry, refrigerators, washing machines, air conditioners, etc. on May 11, which will last until September and will be lowered to 25% after September. (Ministry of Commerce website)
Affected by the outbreak of South Korea's major banks in May, the rate of arrears rose.Yonhap News Agency reported on June 10 that according to the banking sector on the 10th, the default rates of the four major commercial banks, including South Korea KB National, Shinhan, Asiana, and Woolly Bank, all rose month-on-month in May, up 0.02 percentage points each from the end of April. The default rate of major commercial banks in South Korea has risen for two consecutive months since the temporary decline in March this year. By sector, the household loan delinquency rate rose from 0.16-0.32 per cent to 0.17-0.33 per cent and the corporate loan delinquency rate rose from 0.22-0.38 per cent to 0.24-0.41 per cent. (Yonhap)
South Korea manufacturing competitiveness continues to decline.The South Korea "Daily Economy" reported on June 10 that the "Daily Economy" received the help of the South Korea Economic Research Institute to measure the relevant indicators of the top five manufacturing powers in global competitiveness. Among them, the "Manufacturing Pain Index" shows that the operating environment of manufacturing companies is good or bad. South Korea has declined this year due to a wage increase rate of less than 3%, and the gap with Germany, Japan, China, and the United States is narrowing. But last year and the year before last, the gap between the South Korea manufacturing pain index and several other manufacturing powers was more than 10 percentage points, especially when the German corporate pain index was 15.8 in 2018, the South Korea was as high as 41.4. Worse, South Korea manufacturing is losing its fundamental competitiveness in terms of sustainable development. (South Korea Daily Economy)
Japan's employment environment has deteriorated sharply, causing more than 20000 people to lose their jobs.According to the Asahi Shimbun website, statistics released by Japan's Ministry of Health, Labor and Welfare on the 9th show that more than 20000 workers have been fired or terminated by the new coronary pneumonia epidemic. The latest statistics as of June 5 show that the number of unemployed in Japan has risen to 20,933. Among them, the catering industry is the most serious. Moreover, not only did about 13,000 unemployed people increase during the one-month period in May, but the number surged by 10000 people in the half-month after the cumulative number exceeded 10000. It can be seen that the employment environment in Japan is deteriorating sharply. (People's Network)
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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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