China exports decline slower than expected in August as economy remains under pressure
China’s exports declined at a slower pace in August, even as the world’s second biggest economy remains under pressure
By ZEN SOO
Published - Sep 07, 2023, 12:06 AM ET
Last Updated - Sep 07, 2023, 12:09 AM EDT
HONG KONG (AP) — China’s exports declined at a slower pace in August, even as the world’s second-biggest economy remains under pressure from weaker demand both domestically and abroad.
Exports for August slumped 8.8% from the same time last year, totaling $284.87 billion, and were slower than the 14.5% last month, according to customs data Thursday.
Imports slid 7.3% from a year ago to $216.51 billion, but beat consensus estimates of a 9% decline.
China’s trade surplus contracted 13.2% to $68.36 billion, lower than the $80.6 billion in July.
