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HomeChinaChina’s Worse-Than-Expected Exports Deal New Blow to Economy

China’s Worse-Than-Expected Exports Deal New Blow to Economy

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  • Shipments to the US, EU, Asean all down by double digits
  • Imports fall for fourth straight month, boosting surplus YTD

China is facing pressure on trade as foreign shipments drop off and domestic demand remains weak, with a darkening global growth outlook and geopolitical tensions making a reprieve unlikely anytime soon.

The country’s exports fell 12.4% in dollar terms in June from a year earlier, the customs administration said Thursday. That was the second straight month of declines and the biggest drop since the pandemic hit in early 2020. Imports slumped 6.8%, the customs data showed. 

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