{"id":131632,"date":"2023-03-07T18:57:54","date_gmt":"2023-03-07T18:57:54","guid":{"rendered":"https:\/\/fin2me.com\/?p=131632"},"modified":"2023-03-07T18:57:54","modified_gmt":"2023-03-07T18:57:54","slug":"china-exports-continue-to-fall-on-weak-global-demand","status":"publish","type":"post","link":"https:\/\/fin2me.com\/economy\/china-exports-continue-to-fall-on-weak-global-demand\/","title":{"rendered":"China Exports Continue To Fall On Weak Global Demand"},"content":{"rendered":"

China’s exports continued to decline at the start of the year, reflecting the challenges posed by the global economy<\/span> that constrained the ability of Beijing to set robust growth target.<\/p>\n

Exports declined 6.8 percent in the January to February period from the same period last year, the General Administration of Customs reported Tuesday. <\/p>\n

The annual decrease was slower than the 9.9 percent drop posted in December and also better than economists’ forecast of 9.4 percent fall. <\/p>\n

Despite re-opening of the economy, imports logged a double-digit decline of 10.2 percent in the January to February period that was worse than December’s 7.5 percent decrease and the expected 5.5 percent fall. <\/p>\n

Consequently, the trade balance showed a surplus of about $117 billion, which was well above the forecast of $81.8 billion. <\/p>\n

The customs office usually combines data for January and February to avoid distortions caused by the Lunar New Year holiday.<\/p>\n

The trade surplus is likely to decline before long, Capital Economics economist Julian Evans-Pritchard said. <\/p>\n

The National People’s Congress signaled relatively modest policy support this year, but imports should rebound as the shift away from zero-COVID drives a recovery in travel, and therefore fuel demand, the economist noted. <\/p>\n

However, exports are set to struggle in the near-term due to the weak global backdrop, Evans-Pritchard added.<\/p>\n

The government announced a growth target of around 5.0 percent for this year over the weekend. The second-largest economy grew only 3.0 percent in 2022 to mark the weakest expansion in decades.<\/p>\n

Outgoing Premier Li Keqiang warned about the challenges the economy confronts from the external environment amid sanctions and restrictions imposed by the US government that limit the access to technology<\/span>. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

China’s exports continued to decline at the start of the year, reflecting the challenges posed by the global economy that constrained the ability of Beijing […]<\/p>\n","protected":false},"author":3,"featured_media":131631,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"yoast_head":"\nChina Exports Continue To Fall On Weak Global Demand - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/economy\/china-exports-continue-to-fall-on-weak-global-demand\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China Exports Continue To Fall On Weak Global Demand - Fin2me\" \/>\n<meta property=\"og:description\" content=\"China’s exports continued to decline at the start of the year, reflecting the challenges posed by the global economy that constrained the ability of Beijing [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/economy\/china-exports-continue-to-fall-on-weak-global-demand\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-07T18:57:54+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2023\/03\/China-Exports-Continue-To-Fall-On-Weak-Global-Demand-.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/economy\/china-exports-continue-to-fall-on-weak-global-demand\/\",\"url\":\"https:\/\/fin2me.com\/economy\/china-exports-continue-to-fall-on-weak-global-demand\/\",\"name\":\"China Exports Continue To Fall On Weak Global Demand - 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