China with weakest growth outlook – trade slowdown continues
The DHL Global Trade Barometer predicts an extended slowdown in Chinese trade as the overall index drops -3 points to 42 compared to the previous update in September. China records the weakest growth outlook, compared to all surveyed GTB countries. Chinese air trade outlook remains negative, further dropping by -2 points to 41. Also, Chinese ocean trade is forecasted to continue its declining trend, decreasing by -4 points to 43.
Chinese air exports remain sluggish, but the weakening of the inherently strong air imports inevitably brings down the overall air trade outlook. Export of Consumer Fashion Goods are spiraling down from moderate growth to deflation. High Technology, Personal & Household Goods, Machinery Parts and Industrial Raw Materials remain lackluster. The outlook for imports of Basic Raw Materials and Chemicals & Products remains positive. However, the air imports of Temperature or Climate Controlled Goods and Machinery Parts are abating into contraction.
The ocean trade outlook is also pessimistic due to the expected slowdown in exports. Exports of Basic Raw Materials are predicted to plunge, offsetting a forecasted growth of Machinery Parts. Consumer Fashion Goods and Land Vehicles & Parts continue to be sluggish. Meanwhile, ocean imports are expected to stabilize with the exception of Basic Raw Materials, which is forecasted to decelerate further. Imports of Industrial Raw Materials and Temperature or Climate Controlled Goods maintain a moderate growth outlook.