China’s exports have suffered their biggest year-on-year decline since the start of the coronavirus pandemic, adding to concerns over the growth trajectory of the world’s second-largest economy.
June exports declined 12.4 per cent year on year in dollar terms, official data showed on Thursday, the biggest drop since February 2020. Economists polled by Reuters expected declines of 9.5 per cent.
Imports fell 6.8 per cent, also exceeding expectations. In May, exports and imports fell 7.5 per cent and 4.5 per cent respectively.
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