KONTAN.CO.ID - BEIJING. China's exports fell 12.4% in June year-on-year, while imports contracted 6.8%, customs data showed on Thursday, suggesting manufacturers are struggling to find buyers while overseas economies wrestle with inflation and rising interest rates. A Reuters poll of economists had forecast exports to have shrunk 9.5% and imports to have fallen 4.0%. The drop in exports was the worst since the onset of the COVID-19 pandemic more than three years ago.
China's June Exports Fall 12.4%, Imports Drop 6.8%
KONTAN.CO.ID - BEIJING. China's exports fell 12.4% in June year-on-year, while imports contracted 6.8%, customs data showed on Thursday, suggesting manufacturers are struggling to find buyers while overseas economies wrestle with inflation and rising interest rates. A Reuters poll of economists had forecast exports to have shrunk 9.5% and imports to have fallen 4.0%. The drop in exports was the worst since the onset of the COVID-19 pandemic more than three years ago.