HomeLive CommentsChina's exports down -12.4% yoy in Jun, imports down -6.8% yoy

China’s exports down -12.4% yoy in Jun, imports down -6.8% yoy

China’s trade dynamics in June spun a story of steeper than expected declines on both the import and export front. With the largest export drop since February 2020.

June’s figures reveal a -12.4% yoy slump in China’s exports, far exceeding anticipated -9.5% yoy decline and outpacing May’s -7.5% yoy drop. Imports followed a similar pattern, decreasing by -6.8% yoy, steeper fall than projected 4.0% and more significant contraction than May’s -4.5% yoyshrinkage.

Despite these challenges, China’s trade surplus managed to grow from USD 68.1B to USD 70.62B. However, this increase didn’t quite hit expectation of a USD 74.8B surplus.

Lu Daliang, a spokesperson for China’s customs bureau, cautioned that the nation’s trade is expected to face substantial pressure in the second half of the year. During a press conference, Lu attributed these pressures to high inflation in developed countries and geopolitical issues.

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