Caixin
Mar 08, 2023 05:26 AM
ECONOMY

China’s Exports Extend Declines, Adding to Pressure on Economy

Global demand for Chinese goods started falling in late 2022 as soaring inflation in the rest of the world and higher interest rates took a toll on consumer spending
Global demand for Chinese goods started falling in late 2022 as soaring inflation in the rest of the world and higher interest rates took a toll on consumer spending

(Bloomberg) — China’s exports and imports continued to decline in the first two months of the year, clouding the outlook for the economy as it gradually begins recovering from Covid restrictions and infection waves.

Exports fell 6.8% in January and February from the same period last year, official data showed Tuesday, improving from December’s drop of 9.9% and a better outcome than the 9% drop predicted by economists.

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