China: Rare Earth Exports Climb

by | 7. Mar 2024 - 09:52 | Economy

Quasi-monopolist China has presented figures for January and February on the export of rare earths. Compared to the same period last year, the customs authority reported an increase of 18.7 percent. The quantity of exported raw materials required for numerous high-tech applications rose to 8,774 tons. Trade data for January and February are always combined to compensate for the effects of the Chinese New Year on the statistics. This can fall in both January and February.

There was also an increase in imports of rare earths. According to Bloomberg, the most significant increase in volume was observed here, alongside culinary oil and coal. Overall, the import and export figures are mixed, but domestic consumption is expected to provide impetus for the economy, which is still recovering from the coronavirus pandemic.

Photo: iStock/graffoto8

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