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China's June exports down sharply by 12.4% NHK

The value of China's exports in June tumbled sharply by 12.4 percent from a year earlier in dollar terms, marking a second straight month of decline.

Customs authorities there say that's due to a sharp drop in shipments to the United States, Europe and other countries in Asia.

A spokesperson for Chinese General Administration of Customs said that the driving force of a recovery in external demand is weak in the short term, as inflation in major advanced economies remains high and geopolitical tensions are ongoing. He added that the county is facing relatively large pressures.

Officials say exports of cellphones, personal computers, clothing and steel materials all declined. Overall imports last month also fell 6.8 percent year-on-year.

In contrast, China's trade with Russia remained brisk.
The value of exports to there in June jumped by about 90 percent annually, while imports were up roughly 15 percent.
Summary
China's exports dropped 12.4% in June compared to the previous year, marking a consecutive monthly decline. The decrease is attributed to reduced shipments to the US, Europe, and other Asian countries. The recovery of external demand is considered weak due to persistently high inflation in major
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ID: 243d6876-ff43-44cc-9e9c-2aa91ed44c6d

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20230713_30/

Date: July 13, 2023

Created: 2023/07/14 07:20

Updated: 2025/12/09 01:58

Last Read: 2023/07/14 07:25