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China's exports post biggest drop in 3 years and 5 months NHK

China's exports in July fell 14.5 percent from a year earlier in dollar terms, posting the biggest drop in three years and five months.

China's customs authorities published the trade statistics on Tuesday. The data show exports fell for three months in a row. The year-on-year decrease is the largest since February 2020, when the economy slowed due to the coronavirus pandemic.

This is mainly because exports to the United States, Europe and Southeast Asia all declined more than 20 percent. Notably affected items include personal computers and clothing.

Imports also fell 12.4 percent from a year earlier, apparently reflecting a lack of strength in the recovery of domestic demand.

China's economic recovery continues to proceed at a slow pace, even after the end of the government's strict zero-COVID policy.

This is attributed to sluggish domestic demand and falling exports due to the slowdown of overseas economies.
Summary
China's July exports declined by 14.5% year-on-year in dollar terms, marking the biggest drop in nearly three and a half years. This trend has continued for three consecutive months. The main reasons for this decline are reduced exports to the US, Europe, and Southeast Asia, with notable decreases
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ID: 02193f17-4324-4de8-ac2d-4ef30b70deec

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20230808_16/

Date: Aug. 8, 2023

Created: 2023/08/09 10:25

Updated: 2025/12/09 01:12

Last Read: 2023/08/09 10:27