Weekly Newsletter

U.S. trade deficit falls by largest on record

Recently, data released by the U.S. Department of Commerce showed that the U.S. imported 339.7 billion U.S. dollars in April, compared with the previous value of 351.5 billion U.S. dollars; and exported 252.6 billion U.S. dollars, the former value was 241.72 billion U.S. dollars. The trade deficit narrowed by $20.6 billion, or 19.1 percent, to $87.1 billion, the largest drop on record.

The African economy rebounded rapidly, with a growth rate of 6.9%

Recently, the African Development Bank released a report stating that after experiencing a negative growth of 2.1% in 2020, the African economy will rebound rapidly in 2021, with a growth rate of 6.9%. In addition, due to the impact of the epidemic, Africa will lose 22 million jobs in 2021 and add 30 million people in extreme poverty.

German factory orders fall for three consecutive months

The latest data released by the German Federal Statistical Office showed that due to the decrease in foreign new orders, German industrial new orders fell by 2.7% month-on-month in April, the third consecutive month-on-month decline. Among them, new orders from the euro area decreased by 5.6% month-on-month, and new orders from outside the euro area decreased by 3.0% month-on-month.

Wanhai Shipping Costs US$3.414 Billion to Expand Routes

Wanhai Shipping announced that it will spend US$3.414 billion in shipbuilding and container building in the next three years to expand the global shipping market. The group's first-quarter revenue and profit hit a new high in a single quarter, mainly driven by a sharp increase in the proportion of revenue from COSCO routes such as the American line to 76%.

Shenzhen Xunlaitong specializes in shipping export from Shenzhen to Australia & New Zealand, Germany, Netherlands and more business

www.xunlaitong.com