China’s Exports Slump Further as Global Demand Drops Off

(Bloomberg) — China’s exports fell further in December as global demand continued to drop off, adding to pressure on the economy as it charts a hasty, uncertain path out of “zero Covid.”

Exports in U.S. dollar terms fell 9.9% in December from a year earlier, the General Administration of Customs said Friday. That beat economists’ estimate for a 11.1% drop, and compared with a decrease of 8.7% in the previous month. For the full year, exports rose 7% to a record $3.6 trillion.