Exports from China dropped 8.8% y/y to $284.87 billion in August 2023, after a 14.5% plunge in July, and better than forecasts of a 9.2% fall, the fourth straight month of decline in exports, amid weakening global demand.
For the first eight months of the year, exports shrank 5.6% from the same period in 2022 to $2.22 trillion.
Imports to China declined by 7.3% y/y to $216.51 billion in August 2023, softening from a 12.4% plunge a month earlier while pointing to the seventh time of decrease so far this year.
The latest result came less market estimates of a 9.0% drop, amid a series of measures from Beijing to spur domestic demand.
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