- Shipments to the US, EU, Asean all down by double digits
- Imports fall for fourth straight month, boosting surplus YTD
China is facing pressure on trade as foreign shipments drop off and domestic demand remains weak, with a darkening global growth outlook and geopolitical tensions making a reprieve unlikely anytime soon.
The country’s exports fell 12.4% in dollar terms in June from a year earlier, the customs administration said Thursday. That was the second straight month of declines and the biggest drop since the pandemic hit in early 2020. Imports slumped 6.8%, the customs data showed.
