Chinas exports plunge 12.4% in June a new blow for slowing economy

[F-22Raptor]

China’s exports fell for a second straight month in June, adding to the economic pain that has slowed the nation’s recovery this year.

Exports declined 12.4% in dollar terms in June from a year earlier, while imports dropped 6.8%, the customs administration said Thursday. That left a trade surplus of $70.6 billion for the month. Economists had forecast that exports would drop 10% while imports would shrink 4.1%.

Global demand had been a strong driver of Chinese growth over the past three years, although that began to fade in late 2022. Exports have now fallen for four of the six months so far in 2023.

China’s Worse-Than-Expected Exports Deal New Blow to Economy

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.

www.bloomberg.com

 

[Get Ya Wig Split]

@beijingwalker is in shambles...

 

[kankan326]

It is not because Chinese goods are less competitive in international market. There are two reasons:
1, Other countries are in recession and demand shrank;
2, US dollar appreciation. China's exports decreased by 8.3% in China's Yuan.

 

[Indos]

It means other countries economy are screw

 

[GreatHanWarrior]

China’s exports fell for a second straight month in June, adding to the economic pain that has slowed the nation’s recovery this year.

Exports declined 12.4% in dollar terms in June from a year earlier, while imports dropped 6.8%, the customs administration said Thursday. That left a trade surplus of $70.6 billion for the month. Economists had forecast that exports would drop 10% while imports would shrink 4.1%.

Global demand had been a strong driver of Chinese growth over the past three years, although that began to fade in late 2022. Exports have now fallen for four of the six months so far in 2023.

China’s Worse-Than-Expected Exports Deal New Blow to Economy

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.

www.bloomberg.com

Oh. But all Americans are still begging for China. we can understand how bad the US economy is.

 

[beijingwalker]

@beijingwalker is in shambles...

lol, China's H1 exports are still increased than last year's and still enjoys massive surplus, how about US?

 

[huanghong]

While exports to the US fell by 24%, total exports fell by only 12.4%.
It seems that China has found a lot of new customers and can safely decouple from the US, which is good news considering that US imports are expected to decline by 22% in the first half of the year

https://thecurrent.media/global-port-tracker-june-2023

 

[beijingwalker]

US trade deficit hit $69 billion in June, China's trade surplus is $70.62 billion in June 2023.
In the first six months of 2023, China's trade surplus with the U.S. reached $151.44 billion.

 

[beijingwalker]

China is also experiencing strategic restructuring for its major export partners

 

[beijingwalker]

@beijingwalker is in shambles...

lOl, Why you don't look yourself in a mirror first.

 

[Menthol]

USA economy is very sick.

USA only and most powerful advantage is printing unlimited free money.

 

[hari sud]

Over confident Chinese with poor quality stuff is sooner than later loose their grip on cheap quality exports driven by a very happy Yuan- Dollar conversion rate. Now the quality has caught up with them and nobody in his right mind want to have cheap but poor quality products. Hence the exports are plunging.

 

[beijingwalker]

Over confident Chinese with poor quality stuff is sooner than later loose their grip on cheap quality exports driven by a very happy Yuan- Dollar conversion rate. Now the quality has caught up with them and nobody in his right mind want to have cheap but poor quality products. Hence the exports are plunging.

LOL, what a clown.

Chinese Imports Critical for Boosting India’s Manufacturing, Finds New Study, Chinese imports are preferred in India for better quality, not price

Chinese Imports Critical for Boosting India’s Manufacturing, Finds New Study

The Indian Institute of Foreign Trade, which conducted the study, found that pharmaceuticals is one of the sectors where the dependence on Chinese imports is so high that the industry can’t function without these products.

m.thewire.in

 

[beijingwalker]

Over confident Chinese with poor quality stuff is sooner than later loose their grip on cheap quality exports driven by a very happy Yuan- Dollar conversion rate. Now the quality has caught up with them and nobody in his right mind want to have cheap but poor quality products. Hence the exports are plunging.

Incredible India, beats China in every front. And China's decrease is from a record high base last year and India's record low base.

Indian Exports Contract 22% To 3-Yr Low Of $33bn In June
Exports contract 22% to 3-yr low of $33bn in June
15-07-2023 10:00 AM

Indian Exports Contract 22% To 3-Yr Low Of $33bn In June

Indian Exports Contract 22% To 3-Yr Low Of $33bn In June Exports contract 22% to 3-yr low of $33bn in June 15-07-2023 10:00 AM #New Delhi India’s exports contracted by 22%, the steepest decline in the last three years, to $32.97 billion in June on account of global demand slowdown, especially...

defence.pk

 

[Stranagor]