16 October 2023 – China’s commodity imports remain buoyant in September. Iron ore imports over 100 million tonnes for second month in a row. Support from infrastructure projects. And German carmakers significantly increase exports of e-vehicles and internal combustion vehicles compared to the same period last year.
Commodity imports to China remain buoyant
Chinese commodity imports remained buoyant in September as the economy showed further signs of recovery and the government in Beijing is expected to provide further economic support.
Construction and industrial activity continued to pick up after the summer break. This has helped stabilise overall imports and support demand for industrial fuels and materials. Friday’s customs data also showed this.
Iron ore imports again over 100 million tonnes
Iron ore imports remained above 100 million tonnes for a second consecutive month. And are about 6.7% higher than a year earlier. Imports of unwrought copper and copper products reached their highest level this year, supported by grid investment and demand for renewable energy.
German car exports increase significantly
Exports of German electric cars have increased noticeably since the beginning of the year. In the first eight months, 520,000 e-vehicles worth 23.9 billion euros were shipped abroad, according to the German Federal Statistical Office. In terms of volume, exports thus more than doubled compared to the same period last year (255,000 units worth 12 billion euros).
Cars exported with a total value of 42 billion euros
Even though the share of e-cars in total passenger car exports is increasing, vehicles with classic combustion engines continued to make up the majority from January to August. Thus, 1.1 million of these passenger cars with a total value of 42.0 billion euros were exported, 9.7 percent more than in the same period last year.
Volkswagen makes up market share
Worldwide, Volkswagen, for example, delivered a good 2.3 million vehicles in the third quarter of 2023, 7.4 percent more than a year ago. Overall, the VW Group has delivered 6.7 million vehicles since the beginning of the year, an increase of 10.9 per cent year-on-year.
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