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Factoid of the Day Friday, May 26, 2023
Official figures released by the General Administration of Customs revealed that China exported 1.07 million vehicles in Q1'23, up 58% from Q1'22, according to the BBC. The total makes China the world's top exporter of vehicles in the first quarter, supplanting Japan, which exported 954,185 vehicles over the same period. Demand for Chinese-built electric cars and higher sales to Russia, which remains under Western sanctions, were the primary reasons for the surge in exports. In China, first quarter exports of so-called new energy vehicles, which includes electric cars, rose by more than 90% compared to the same quarter a year ago.

First Trust Advisors Economists Receive the Consensus Economics Award for United States

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