CHINESE exports tumbled 12.4% year-on-year last month, official data showed today, marking the second successive decline and the latest sign the country’s economic recovery is flagging.

Imports also fell 6.8% over the same period, according to China’s General Administration of Customs.

Exports are a key pillar of growth in the world’s second-largest economy but apart from a brief rebound in March and April, they have declined since October last year.

Still, while June’s drop was sharper than the previous month’s, the figures were better than the 15.3% fall predicted in a survey of economists by Bloomberg.

The threat of recession in the United States and Europe, combined with inflation, has led to lukewarm demand for Chinese products. 

“The risks linked to unilateralism, protectionism, and geopolitics are on the rise,” which has a “direct impact” on Chinese trade, Customs spokesman Lyu Daliang, said. – AFP, July 13, 2023.