China’s Exports Slump Further as Global Demand Drops Off
- Overseas shipments fall 9.9% in December: customs authority
- Foreign trade still facing pressure with weak global economy
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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 Covid Zero.
Exports in US 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.