11:58 - 13.07.2023

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July 13, Fineko/abc.az. In June 2023, China's exports decreased by 12.4% year-on-year and amounted to $285.32 billion, ABC.AZ reports with reference to the Main Customs Administration of the country.

Meanwhile, imports decreased by 6.8% to $214.7 billion. The indicator dropped for the fourth month in a row.

Analysts on average predicted a decrease in exports by 9.5% and a decrease in imports by 4%, according to Trading Economics.

The decrease in imports is mainly due to the weakening of domestic demand, while the decline in exports was provoked by the weakness of the global economy, experts say.

China last month reduced purchases of copper abroad by 16.4%. At the same time, oil imports jumped by 45.3%, iron ore - by 7.4%, soybeans - by 24.5%.

The foreign trade surplus in June was $70.62 billion compared to $97.37 billion in the same month a year earlier and $65.81 billion in May. Analysts predicted that the figure would be $74.8 billion.

The surplus in foreign trade with the United States in June increased to $28.72 billion from $28.16 billion in May. In the first half of the year, China's trade surplus with the United States amounted to $151.44 billion.