Calay News
Exports of Chinese goods experienced a 14.5% decline in July compared to the same period a year earlier, marking the third consecutive month of decline, according to data released by the customs authority. This drop represents the largest decline since January–February 2020, when exports fell by 17.2% during the start of the COVID-19 pandemic and the Chinese economy was paralyzed.
Despite a brief rebound in March and April, Chinese exports have been in steady decline since October 2022. The combination of the threat of recession in Europe and the United States, along with high inflation, has negatively impacted international demand for Chinese products.
Global economic difficulties, particularly in Europe and the United States, have led to lower demand for Chinese manufactured goods and consumer goods. This context, added to concerns about inflation, has negatively affected China’s trade prospects in the international market.
The continued decline in Chinese exports could have a significant impact on the country’s economy, as exports are a crucial component of its economic growth. Reliance on exports as an economic engine has left China vulnerable to changes in global demand and fluctuations in the world economy.
In summary, sales of Chinese goods abroad have declined markedly in July, marking a prolonged period of decline in exports due to economic slowdowns in Europe and the United States as well as inflation concerns. These factors represent significant challenges for the Chinese economy in the global economic landscape.
