XSI® Far East
Imports & Exports The XSI for Far East exports fell by just 2.7% to 188.62 in July. This is the lowest this index has been since April 2021, and a 69.5% drop from July last year.
The XSI for Far East exports fell by just 2.7% to 188.62 in July. This is the lowest this index has been since April 2021, and a 69.5% drop from July last year.
The Far East imports XSI has fallen by 13.3% in July to 120.2 points, the lowest of all the XSI sub-indices.
The low demand for exports is hampering China’s post COVID-economic recovery, but this is not the only factor.
China’s economy grew by 6.3% in Q2, but this seemingly impressive growth rate is buoyed by the low base effect, as it compares to when large parts of China were still in lockdown.
Quarter-on-quarter, the Chinese economy grew by just 0.8%, pulled down by low domestic activity as well as a sharp drop in exports.
