Chinese exports fall for the fourth month in a row – Kommersant
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According to the results of August, exports from China shrunk by 8.8% compared to the same period last year. This was the fourth consecutive month of decline. Imports to China also decreased in August – by 7.3%. Thus, the negative dynamics of imports, which was established at the beginning of the year, continues to persist – starting from January, imports on an annualized basis have never shown growth.
The reason for the decline in both exports and imports, economists see a reduction in demand for Chinese goods in the world, as well as a slowdown in the Chinese economy and consumer demand, which causes a decrease in demand for raw materials and goods from abroad.
However, some experts saw reason for optimism in the August data, as they turned out to be better than the forecasts of analysts polled by Reuters: a decline in exports was expected at the level of 9.2%, and imports – 9%. “In general, the data released suggests that negative factors remain, despite a slight improvement,” Hao Zhu, chief economist at Guotai Junan International, was quoted by CNBC TV channel. such as the situation in the real estate market, oil prices and the exchange rate of the yuan against the dollar.
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