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Breaking News | China's Economy On The Downslide? Export Went Down By This Much YoY! | World Updates
Posted
September 7, 2023
Views
367
September 7, 2023
367
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4:05Now PlayingIn August, China's export decline moderated, despite the ongoing challenges faced by the world's second-largest economy due to reduced demand both domestically and internationally. According to customs data released on Thursday, exports in August decreased by 8.8 percent compared to the same period last year, which was a less severe drop than the 14.5 percent decline recorded the previous month. The weakened demand for Chinese exports stemmed from actions taken by the Federal Reserve and central banks in Europe and Asia to raise interest rates last year in order to counteract inflation that had reached multi-decade highs. Imports, on the other hand, decreased by 7.3 percent compared to the previous year but exceeded consensus estimates, which had projected a 9 percent decline.
#china #xijinping #chineseeconomy #chineseexports #chineseimports #chinesetrade #secondlargesteconomy
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