Trade
Chinese Exports Hit by Weak Global Demand and Covid Disruptions
- Exports dropped 8.7% in November as global economy slows
- Imports fell more than 10%, the worst result since May 2020
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China’s exports and imports both contracted at steeper paces in November as external demand continued to weaken and a worsening Covid outbreak disrupted production and cut demand at home.
Exports in dollar terms fell almost 9% in November from a year earlier, the General Administration of Customs said Wednesday — the biggest contraction since February 2020 when trade was hit by the first Covid lockdown.