12:27 - 7.09.2023
September 7, Fineko/abc.az. In August 2023, the volume of Chinese exports fell by 8.8% year-on-year to $284.87 billion.
ABC.AZ reports with reference to the General Administration of Customs of China.
The consensus forecast of experts, cited by Trading Economics, provided for a reduction of 9.2%.
In July, the indicator fell by 14.5%.
Chinese exports have been declining for four months in a row amid weakening global demand.
Deliveries to the USA dropped by 9.5% compared with August 2022, to the ASEAN countries by 13.25%, to the European Union by 19.6%.
The volume of imports in August decreased by 7.3%, to $216.51 billion, while analysts expected a fall of 9%. A month earlier, the indicator declined by 12.4%.
Imports of copper fell by 5%, steel products by 29.1%, meat by 4.6%. At that, while purchases of oil grew by 30.9%, petroleum products by 86.8%, natural gas by 22.7%.
Imports from Japan decreased by 16.9%, from South Korea by 21.9%, from the EU by 5.7%, from the USA by 7.9%, from ASEAN countries by 6.1%.
The positive balance of China's foreign trade balance last month amounted to $68.36 billion, compared with $78.65 billion in August 2022 and $80.6 billion in July of 2023.
For the past 8 months of 2023, the surplus reached $553.4 billion. Exports fell by 5.6% and imports by 7.6%.
