China’s Exports Fall by 1.3% in June, Less Than Economists Expected
The volume of China’s exports fell by 1.3% year-on-year in June, CNBC reports Friday, July 12.
Citing the country’s customs department, CNBC also reported that the volume of imports fell by 7.3% compared to the same period last year.
According to the median prediction of 34 economists polled by Reuters on July 10, the exports were expected to fall even lower — by two percent.
June numbers came in contrast to May, during which China’s export volume actually saw an increase of 1.1% year-on-year.
The overall trade surplus of the country — the volume of its exports minus the imports — is reported at $50.98 billion.
China’s specific trade surplus with the U.S. went up from $26.89 billion in May to $29.92 billion in June.
The decline in exports comes against the backdrop of the ongoing trade war between the U.S. and China, with the two countries threatening and implementing tariffs on each other’s goods since March 2018.