24th July 2019
CHINA's exports and imports of goods both declined year on year in June, according to data from the General Administration of Customs, reported Caixin.
Exports fell 1.3 per cent to US$212.8 billion last month, official data showed, down from a 1.1 per cent increase in the month before. The drop was less severe than the median forecast of a 1.4 per cent slide forecast by a Bloomberg poll of economists.
Imports declined 7.3 per cent year on year to $161.9 billion, compared with an 8.5 per cent drop in the previous month.
China's trade surplus further expanded to $51 billion in June, up from $41.7 billion the month before and $13.7 billion in April. Researchers from Capital Economics said that the latest US tariff hike in May likely contributed to the drop in exports, alongside a broader slowdown in foreign demand.