{"id":10030,"date":"2023-08-08T04:15:14","date_gmt":"2023-08-08T04:15:14","guid":{"rendered":"https:\/\/isafespend.com\/news\/china-reports-double-digit-plunge-in-july-exports-and-imports-missing-expectations\/"},"modified":"2023-08-08T04:15:16","modified_gmt":"2023-08-08T04:15:16","slug":"china-reports-double-digit-plunge-in-july-exports-and-imports-missing-expectations","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=10030","title":{"rendered":"China reports double-digit plunge in July exports and imports, missing expectations"},"content":{"rendered":"
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BEIJING \u2014 China said Tuesday that exports fell by 14.5% in July from a year ago, while imports dropped by 12.4% in U.S. dollar terms.<\/p>\n

That’s worse than what analysts had expected.<\/p>\n

A Reuters poll predicted a 12.5% decline in exports in July from a year ago, in U.S. dollar terms. Imports were expected to have dropped by 5% during that time, according to the poll.<\/p>\n

China’s exports to the U.S. plunged by 23.1% year-on-year in July, while those to the European Union fell by 20.6%, CNBC analysis of customs data showed. Exports to the Association of Southeast Asian Nations fell by 21.4%, according to the data.<\/p>\n

China’s imports from Russia fell by 8.1% in July from a year ago, the data showed.<\/p>\n

A slowdown in U.S. and other major economies’ growth has dragged down Chinese exports this year. Meanwhile, China’s domestic demand has remained lackluster.<\/p>\n<\/div>\n

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Chinese imports of crude oil dropped by 20.8% in July from a year ago, while imports of integrated circuits fell by nearly 17%.<\/p>\n

July’s decline in trade adds to recent weakness in China’s exports and imports.<\/p>\n

On a year-to-date basis, China’s exports for the first seven months of the year fell by 5% from a year ago, while imports dropped by 7.6% during that time.<\/p>\n

Among the few higher-value export categories that saw a significant increase in the first seven months of the year were cars, refined oil and bags, suitcases and similar receptacles.<\/p>\n

For imports, paper pulp, coal products and edible vegetable oil were among the categories seeing significant growth in the January to July period from a year ago.<\/p>\n<\/div>\n

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Read more about China from CNBC Pro<\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

BEIJING \u2014 China said Tuesday that exports fell by 14.5% in July from a year ago, while imports dropped by 12.4% in U.S. dollar terms. That’s worse than what analysts had expected. A Reuters poll predicted a 12.5% decline in exports in July from a year ago, in U.S. dollar terms. Imports were expected to<\/p>\n","protected":false},"author":1,"featured_media":10031,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-10030","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"\nChina reports double-digit plunge in July exports and imports, missing expectations | iSafeSpend<\/title>\n<meta name=\"description\" content=\"BEIJING \u2014 China said Tuesday that exports fell by 14.5% in July from a year ago, while imports dropped by 12.4% in U.S. dollar terms.That's worse than\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/isafespend.com\/?p=10030\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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