December Exports Are Substantially Warmer Than Before. Textile Is Expected To Take The Lead.
According to customs statistics, in December, exports increased by 7.6% in dollar terms, and the export growth rate increased by 8.9% over the November -1.1%. Exports to the United States decreased by 14.6% over the same period last year, narrowing sharply than the 23% decline in November. Exports to the EU, ASEAN and Hongkong increased by 6.6%, 27.4% and 1.9%, respectively, and improved significantly compared with November. Separately, exports of textiles, clothing, footwear, bags and toys increased by 11.4%, 5.4%, 11%, 10.2% and 23.2% in December, faster than in November.
The export has been greatly recovered: on the one hand, the demand for domestic and foreign markets has stabilised in recent years, as well as the impact of last year's base declines. On the other hand, the first phase of the Sino US agreement has recently boosted the confidence of export enterprises. Overall, the easing of Sino US trade frictions will reduce external uncertainties and benefit Global trade and economy. It is expected that export growth in 2020 is expected to continue to improve, and related listed companies will have shares in URI (002083) and Lu Tai A (000726).
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