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Chinese exports increase by 10 per cent
April 10, 2013, 4:46 am

Chinese productivity has become it the leading car manufacturer in the world [Getty Images]

Increased productivity has made China among the leading car manufacturers in the world [Getty Images]

China’s General Administration of Customs said exports increased 10 per cent year-on-year in March, and imports rose 14.1 per cent.

The figures released Wednesday are supported by earlier data released in March and January showing that China’s production capacity has been continuously expanding.

The Purchasing Managers’ Index (PMI) used to measure manufacturing was at an 11-month high of 50.9 the National Bureau of Statistics said in late March.

An earlier report from HSBC, showed China final manufacturing PMI rose to a 19-month high of 51.5 in December 2012.

Other data released over the past few weeks have also hinted at a broader recovery in the Chinese economy.

According to the HSBC report, this rise was spurred by an expansion of production, on the back of a strong increase in new business inflows.

The figure also confirmed that China’s manufacturing sector is gaining momentum, partially due to the continued growth of its automotive industry, which is predicted to to grow by at least 10 per cent in 2013, fueled by domestic demand as well as ambitious overseas expansion.

The China Association of Automobile Manufacturers (CAAM) said in a statement on its website that China’s auto production in November increased by nearly 11 per cent compared with October, and up 3.92 per cent compared with the same period of last year.

A growing middle class and increased affordability of locally manufactured vehicles has stimulated domestic consumption.

Domestic automobile sales stood at 1,791,000 units in November, an increase of 11.52 per cent compared with October, and increased more than 8.16 per cent compared with the same period of last year, CAAM says.

The figures put China at the top of the list of global automotive producers and consumers. The German Association of the Automotive Industry (VDA) said in a press release in December 2012: “One million more new cars have already been sold on the Chinese market than on the Western European market.”

BRICS Post and Agencies

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