China reports double-digit plunge in July exports and imports, missing expectations

2 yıl önce

A container ship from China-owned Cosco Shipping sits in the Port of Oakland in California on Aug. 7, 2023.

Justin Sullivan | Getty Images News | Getty Images

BEIJING â China said Tuesday that exports fell by 14.5% in July from a year ago, while imports dropped by 12.4% in U.S. dollar terms.

That's worse than what analysts had expected.

A Reuters poll predicted a 12.5% decline in exports in July from a year ago, in U.S. dollar terms. Imports were expected to have dropped by 5% during that time, according to the poll.

An official measure of manufacturing activity posted a fourth-straight month of contraction in July.

A similar survey from Caixin for July found that manufacturers' new export business contracted at the fastest pace since September 2022.

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