China's August export growth slows from expected 13pc to 7.1pc

CHINA's exports significantly missed expectations in August with overseas demand flattened and a new wave of Covid restrictions disrupted production and logistics, reports London's Financial Times.


Exports rose 7.1 per cent last month compared with the same period a year earlier, well below consensus expectations of a 13 per cent increase and down from 18 per cent growth in July, official customs data showed, representing the first slowdown since April.


The country's trade balance narrowed to a US$79.4 billion surplus, compared with market expectations of $92.7 billion, after reaching a record high of $101.3 billion in July.


Trade had been a rare bright spot for the Chinese economy, which has been hammered by a liquidity crisis in the property sector and widespread lockdowns as part of their zero-Covid strategy.


Analysts said this month's slowdown represented the beginning of the end of the export boom that had provided a lifeline to the world's second-largest economy after the early stages of the Covid crisis in 2020.


Need a China Shipping Agent to help you consolidate and ship internationally from China?




China's August export growth slows from expected 13pc to 7.1pc
China's August export growth slows from expected 13pc to 7.1pc