China's June trade data badly misses expectations

2 yıl önce

The dollar value of China exports are expected to decline 9.5% in June from a year earlier, according to a Reuters poll, deepening a 7.5% annual decline in May.

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China's exports contracted more than expected in June, hit by shrinking global demand and adding to concerns about the world's second-largest economy.

The dollar value of China's exports plunged 12.4% in June from a year ago, customs data showed Thursday. This is a far bigger drop than expectations for a 9.5% decline in a Reuters poll and the 7.5% annual decline in May.

Imports declined 6.8%, in June from a year ago, also worse than expectations for a 4% decline and the 4.5% annual decline in May.

"China's trade still faces rather great pressure in the second half of the year, partly due to high inflation in developed countries and geopolitics," said Lu Daliang, a spokesperson for China's customs bureau, at a press conference Thursday.

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