China’s foreign trade woes continue amid weak global demand
China’s foreign trade has taken another tumble, with July exports falling by 14.5 per cent year-on-year, the customs authority in Beijing announced on Tuesday.
The slump follows a series of sharp declines in previous months.
Imports for the same period fell by 12.4 per cent.
Both figures were even worse than analysts had expected.
The outlook for the Chinese economy is becoming increasingly gloomy as a strong start to the year loses momentum.
The world’s second-largest economy is suffering from weak global demand, a struggling real estate market, and persistently weak domestic consumption.
(dpa/NAN)
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