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China reports biggest drop in exports since 2020 | The Malaysian Insight

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China reports biggest drop in exports since 2020

A ship enters Lianyungang Port, Jiangsu province, China. July saw its biggest drop of 14.5% in exports since July 2020. – EPA pic, August 8, 2023.

CHINA saw its biggest drop in exports last month since 2020, according to official figures released today, as the world’s second-largest economy faces sluggish global demand and a domestic slowdown. Sales of Chinese products to foreign markets fell by 14.5% year-on-year last month, shrinking for the third consecutive month, according to dollar-denominated figures published by China’s customs authority.

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