China’s exports decreased for the second consecutive month in June, resulting in the nation’s economic pain slowing its recovery. The country’s exports fell 12.4% while imports declined 6.8%, leading to a trade surplus of $70.6bn for June. The global economy and external uncertainties were indicated as the main reasons for the drop in exports but vehicles such as electric cars and batteries saw their exports improve.
China’s worse-than-expected exports deal fresh blow to economy
China’s exports decreased for the second consecutive month in June, resulting in the nation’s economic pain slowing its recovery. The country’s exports fell 12.4% while imports declined 6.8%, leading to a trade surplus of $70.6bn for June. The global economy and external uncertainties were indicated as the main reasons for the drop in exports but vehicles such as electric cars and batteries saw their exports improve.