The value of China's exports fell in November for the second straight month.
Weak shipments to the United States and Europe led the decline. Worries are growing that inflation and higher interest rates will weigh on growth in those economies.
Customs authorities say exports fell 8.7 percent last month in dollar terms from a year earlier. That is the biggest drop since February 2020 when the number of coronavirus infections in China surged for the first time.
Analysts are concerned that the decline in outbound shipments will be another blow to the slowing economy.
Imports also fell for 2 months in a row. They were down 10.6 percent year on year and declined from October.
Domestic demand remained sluggish due to the effects of China's strict zero-COVID policy.
Yet the country's trade with Russia continued to stay robust in November, mainly in energy. Exports rose about 17 percent and imports increased by around 28 percent.
Weak shipments to the United States and Europe led the decline. Worries are growing that inflation and higher interest rates will weigh on growth in those economies.
Customs authorities say exports fell 8.7 percent last month in dollar terms from a year earlier. That is the biggest drop since February 2020 when the number of coronavirus infections in China surged for the first time.
Analysts are concerned that the decline in outbound shipments will be another blow to the slowing economy.
Imports also fell for 2 months in a row. They were down 10.6 percent year on year and declined from October.
Domestic demand remained sluggish due to the effects of China's strict zero-COVID policy.
Yet the country's trade with Russia continued to stay robust in November, mainly in energy. Exports rose about 17 percent and imports increased by around 28 percent.
Similar Readings (4 items)
China's June exports down sharply by 12.4%
China exports continue to drop, weighing on recovery
China's exports, imports drop in August
China's imports fell in November due to stagnant domestic demand
Summary
China's exports decreased for the second consecutive month in November, with a 8.7% drop recorded year-on-year due to weakened shipments to the US and Europe. Concerns about inflation and higher interest rates affecting growth in these economies persist. Imports also declined for two months in a
Statistics
155
Words1
Read CountDetails
ID: 18ea723d-dd0d-48e1-9156-12411967e211
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20221207_39/
Date: Dec. 7, 2022
Created: 2022/12/08 07:19
Updated: 2025/12/09 10:40
Last Read: 2022/12/08 07:25