Chart of the Day: China’s ASEAN Exports Stumble as Global Growth Wanes

China’s goods exports to Southeast Asia have plunged for three straight months on a year-on-year basis, as weakening demand from developed countries has crimped shipments of semi-finished products to the region.

The total value of goods shipped to members of the Association of Southeast Asian Nations (ASEAN), China’s largest trading partner, dropped 21.4% in July compared with the same period last year, following a decline of 16.9% in June and 15.9% in May, customs data show.