Exports fall 2.2% and imports fall 11.8%

Exports fell 2.2 percent and imports fell 11.8 percent in October, in nominal year-on-year terms, after increasing 0.2 percent and falling 8.8 percent in September respectively.

By TPN/Lusa, in Business · 18 Dec 2020, 01:00 · 1 Comments

According to the International Trade Statistics for October of this year, decreases in exports of ‘industrial supplies’ (-5.9 percent) and imports of ‘fuels and lubricants’ (-36.9 percent) and ‘transport equipment’ (-16.8 percent), mainly ‘cars for passenger transport’, stand out.

Excluding ‘fuels and lubricants’, exports and imports decreased by 1.3 percent and 8.9 percent respectively (+0.8 percent and -4.6 percent, in the same order, in September 2020).

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Comments

I do hope citizens and government prepare for a big recession and hope it dose not go into depression but these numbers show world wide recession.

How can people judge if a recession is coming. Just look at Velocity of Money exchange between businesses and citizen.. The government shut down has done what Slowed velocity of transactions of money and ideas that supports recession. What is an economy recession? It is base on velocity that means two things amount of money and frequency of money going between hands.

Then add on top of that is banks health to allow money to flow. Greece is example where people could not get money why? NO physical money NO transaction that is recession people abilities to do businesses buy and sell. That first is recession then could true into depression where people cannot sell to get money and people do not have money to buy so we go back to bartering for goods and services.

But now we have cryptocurrency could by a form of value exchange to lower risk of recession if banks fail. We need currency to define value of goods and services and if state money cannot be found crypto could replace it to define value in exchanges for goods and services. What is the value of currency is what one can get and do with it. Just be prepared for big down turn given loss of so much velocity of money exchanges force by Government demands. If people cannot earn Monet and do not have it and fear of loss of money then add taxes that decrease money people have look for recession. Keeping business transaction prevent recession and poverty. Jobs. These numbers show less jobs and loss in value in these companies. Why these numbers did not exist until this force shut down. Just look out as citizens.

By Scott M. Bartley from USA on 20 Dec 2020, 19:25