Chinese foreign trade declined again in August. The exports of the second-largest economy fell by 8.8 percent year-on-year, according to the customs administration in Beijing on Thursday. This means that exports have fallen continuously since April. According to official information, imports also fell again compared to August of the previous year. The minus was therefore 7.3 percent.
As a result, foreign trade once again declined. On average, analysts had expected even greater losses. After a good start to the year, the Chinese economy has recently cooled off significantly. Growth fell short of expectations. The Chinese economy is suffering from the currently weak global demand, a troubled real estate market and persistently weak domestic consumption.
