April 19, 2023 Today’s Economic and Trade Consulting

   

1.In February, South Africa's manufacturing output fell by 5.2% year-on-year

      

A few days ago, the latest data from Statistics South Africa showed that South African manufacturing output fell by 5.2% year-on-year in February, higher than the revised 4.1% drop in January. Among them, food and beverage products fell by 6.1% year-on-year; basic steel, non-ferrous metals, metal products, and machinery products fell by 5.3% year-on-year; petroleum, chemical, rubber and plastic products fell by 4.7% year-on-year.

     

2. Asia's container shipments to the United States fell by 31.5% in March

    

Recently, data released by Descartes Datamyne in the United States showed that in March, the volume of maritime container transport from Asia to the United States was 1,217,509 (calculated in 20-foot containers), a year-on-year decrease of 31.5%. The decline was wider than in February (29%). Shipments of furniture, toys, sporting equipment and footwear, among others, have halved, while cargo shipments continue to stagnate.

    

3. The net profit of CIMC in the first quarter is expected to drop by 89%-92% year-on-year

    

Recently, CIMC Group announced that the net profit in the first quarter is expected to be 140 million to 180 million yuan, a year-on-year decrease of 89%-92%; The momentum of economic and trade growth has weakened, and the demand for traditional sea containers has declined. Therefore, the Group's container manufacturing business has also declined synchronously compared with the high performance in the same period last year.

    

4. Volume decreased by 31.5%! Shipping of furniture, toys, sporting equipment and footwear halved

    

U.S. consumption is weak and the retail industry is still facing inventory pressure. According to a report released by the U.S. research company Descartes Datamyne, the volume of containers shipped from Asia to the U.S. in March this year was 1.2175 million TEUs, a year-on-year decrease of 31.5%. The drop was wider than in February (29%). Shipments of furniture, toys, sports equipment and footwear are cut in half.