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?