One Quarter of Global Countries Traded More with US than China in Q1
According to an analysis by Russia's Sputnik News Agency of data from the US statistical departments and Chinese customs, only 56 countries and regions had trade volumes with the US higher than those with China in the first quarter of this year, while 145 economies had higher trade volumes with China.
Sputnik News Agency studied the trade situations between China and the US with 201 global economies. In the first quarter, trade with the US was higher than that with China for 56 countries and regions, whose total trade volume with the US reached $891.1 billion, compared to only $291.1 billion with China. Major trading partners of the US include Mexico, Canada, Switzerland, Ireland, and Germany.
Meanwhile, trade with China was higher than that with the US for 146 countries and regions, with a total trade volume of $961.5 billion with China and $445.2 billion with the US. Major trading partners of China include Hong Kong (China), South Korea, Japan, and Vietnam.
In addition, seven countries "switched to the China camp" in the first quarter: last year from January to March, Argentina, Latvia, Monaco, Panama, Suriname, the Central African Republic, and Eswatini had higher trade volumes with the US, but this year they had higher trade volumes with China. The situations were reversed for India, Jordan, Spain, and Switzerland.
In general, the US' total foreign trade volume increased by 5.3% year-on-year to $1.3 trillion in the first quarter. Meanwhile, China's total trade volume with the world decreased by 1.3% to $1.4 trillion.
Source: https://www.toutiao.com/article/1834249460696072/
Disclaimer: The article solely represents the author's views.