BEIJING: Chinese exports tumbled 12.4 percent year-on-year in June, official data showed Thursday, marking the second successive decline and the latest sign the country’s economic recovery is flagging.
Imports also fell 6.8 percent over the same period, according to China’s General Administration of Customs.
Exports are a key pillar of growth in the world’s second-largest economy but apart from a brief rebound in March and April, they have declined since October 2022.
June’s drop was sharper than the previous month’s and worse than a 10.0 percent fall predicted in a survey of economists by Bloomberg.
The threat of recession in the United States and Europe, combined with inflation, has led to lukewarm demand for Chinese products.
“The risks linked to unilateralism, protectionism, and geopolitics are on the rise,” which has a “direct impact” on Chinese trade, Customs spokesman Lyu Daliang, said.
Imports also fell 6.8 percent over the same period, according to China’s General Administration of Customs.
Exports are a key pillar of growth in the world’s second-largest economy but apart from a brief rebound in March and April, they have declined since October 2022.
June’s drop was sharper than the previous month’s and worse than a 10.0 percent fall predicted in a survey of economists by Bloomberg.
The threat of recession in the United States and Europe, combined with inflation, has led to lukewarm demand for Chinese products.
“The risks linked to unilateralism, protectionism, and geopolitics are on the rise,” which has a “direct impact” on Chinese trade, Customs spokesman Lyu Daliang, said.