Cargo ships dock at the Longtan Container Terminal of Nanjing Port to load and unload containers in Nanjing, Jiangsu province, China, Sept 6, 2023.
Nurphoto | Nurphoto | Getty Images
BEIJING — China reported Thursday another monthly decline in imports and exports, albeit less steep than expected.
Exports in U.S. dollar terms fell by 8.8% in August from a year ago. That’s better than the 9.2% drop forecast by a Reuters poll.
Imports in U.S. dollar terms fell by 7.3% in August from a year ago, better than the 9% decline forecast by Reuters.
Imports have now fallen every month in 2023 so far from the year-ago period. Exports have fallen year-on-year for every month since April as global demand for Chinese goods wanes.
China’s economic rebound from the pandemic has slowed in the last few months, dragged down by a property market slump and lackluster consumer spending.
This is breaking news. Please check back for updates.
Credit: Source link
