BEIJING - The slump in China’s exports likely eased in June as some countries reopened their economies, while imports contracted less sharply on higher crude oil and commodities purchases, a Reuters poll showed on Monday.
Imports likely fell 10.0% on year, the poll showed, compared with a steep drop of 16.7% the previous month, due to higher purchases of crude oil and orders for infrastructure materials. Since mid-May, European countries and the United States have gradually eased their lockdowns, leading to increased shipments of some cargo backlogs previously stuck at Chinese ports and driving a relatively fast rebound in port throughput, said China Ports & Harbours Association in June.
July will be a different story. Resurgence of coronavirus in Beijing & other areas. Heavy rains causing floodings, releasing dam water destroying homes, lives, businesses, agriculture & food. With millions at risk. Earthquakes, locusts & sanitary related diseases thriving..
June? 🤔
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