China Trade Data Exceed Expectations

TT
20

China Trade Data Exceed Expectations

China’s trade surplus with the United States expanded in November to $27.87 billion from $26.62 billion in October, according to data from China’s customs administration on Friday.

The surplus with the US over the first 11 months of the year was $251.26 billion, customs data showed, compared to $222.98 billion in the Jan-Oct period, Reuters reported.

September’s surplus of $28.08 billion was the highest on record, a Reuters calculation showed.

The latest data show that the country registered a trade surplus of $40.21 billion in the month against expectations of $35 billion in November after the $ 38.185 billion in October.

Trade between the United States and China is one of the most pressing issues that the administration of President Donald Trump places an eye on.

Trump describes the trade deficit with China as "embarrassing" and "horrible" and blames past US administrations "for allowing this trade deficit to take place and to grow."

China has enjoyed a boom in trade relations with many countries of the world, not just the United States, where recent data showed that China's total exports in November increased by 12.3 percent year on year, the fastest pace in eight months.

As global demand has surprised with its strength, consumers have lapped up Chinese goods at a rapid rate this year, giving the economy a boost and providing policy makers room to tighten rules to curb high-risk lending, Reuters reported.

The number beat analysts' forecast of a 5.0 per cent increase and compared with 6.9 per cent growth in October.



Saudi Arabia Establishes Non-Profit Association of Medical Device Manufacturers

The headquarters of the Ministry of Industry and Mineral Resources (SPA)
The headquarters of the Ministry of Industry and Mineral Resources (SPA)
TT
20

Saudi Arabia Establishes Non-Profit Association of Medical Device Manufacturers

The headquarters of the Ministry of Industry and Mineral Resources (SPA)
The headquarters of the Ministry of Industry and Mineral Resources (SPA)

Saudi Arabia’s Ministry of Industry and Mineral Resources announced on Tuesday the establishment of the Non-Profit Association of Medical Device Manufacturers, aimed at supporting the development and growth of the medical device industry.

The initiative aligns with the Ministry’s efforts to empower non-profit organizations in the industrial and mining sectors, reflecting its belief in their role in advancing the Kingdom’s economic and social development.

According to a Ministry statement, the Association seeks to encourage high-quality investments in medical device manufacturing, support factories’ compliance with the highest standards of quality and safety, raise awareness about locally produced devices and their advantages, and enhance the export efficiency of Saudi medical products.

The Association will also provide specialized advisory services, foster innovation, and help develop the skills of the workforce in the sector to strengthen its regional and global competitiveness.

The establishment of the Non-Profit Association of Medical Device Manufacturers forms part of the Ministry’s broader efforts to enable the non-profit sector and enhance its role in industry and mining. The initiative aims to increase its contribution and direct impact on the Kingdom’s GDP, in line with the goals of Saudi Vision 2030.