China’s exports fall 4.8% in June
Imports, meanwhile, slid 8.4% on the year in June compared with May’s drop of 0.4%. Accordingly, China’s trade surplus declined to $48.11 billion from $49.98 billion.
According to economists, the country’s trading activities are drawing a gloomy outlook for the upcoming period due to stagnant external demand. Brexit will also put a cap on demand from the EU. In the January-June period, China’s trade with the EU fell around 4% on the year while trade with ASEAN countries and the US also slipped 8.1% and 10.9%, respectively from a year earlier, according to the recent data.
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