The dollar value of China exports are expected to decline 9.5% in June from a year earlier, according to a Reuters poll, deepening a 7.5% annual decline in May.
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China’s exports contracted more than expected in June, hit by shrinking global demand and adding to concerns about the world’s second-largest economy.
The dollar value of China’s exports plunged 12.4% in June from a year ago, customs data showed Thursday. This is a far bigger drop than expectations for a 9.5% decline in a Reuters poll and the 7.5% annual decline in May.
Imports declined 6.8%, in June from a year ago, also worse than expectations for a 4% decline and the 4.5% annual decline in May.
China’s trade still faces rather great pressure in the second half of the year, partly due to high inflation in developed countries and geopolitics, Lu Daliang, a spokesperson for China’s customs bureau, said at a press conference Thursday.
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