ExplainerChina trade: 4 takeaways from August’s data as exports fell for a fourth consecutive month
China’s exports fell by 8.8 per cent in August compared with a year earlier, while imports fell by 7.3 per cent last monthExports to most of China’s major trading partners also continued to shrink in August, though the declines narrowed from JulyChina tradeAndrew MullenPublished: 7:00am, 8 Sep, 2023Why you can trust SCMP
1. Exports face challenging outlook for global goods demand
China’s exports fell by 8.8 per cent in August compared with a year earlier, to US$284.9 billion last month.
But the decline narrowed from a fall of 14.5 per cent in July and was above the forecast by Chinese financial data provider Wind for a fall of 9.5 per cent.
“China’s export values continued to contract in August, but this mostly reflects lower prices. Export volumes continued to hold up well and are still above their pre-pandemic trend. We doubt this resilience will last, however, given the challenging outlook for global goods demand,” said analysts at Capital Economics.