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PRC exports fall by 1% in Aug, trade surplus also drops

11
Sep '19
Pic: Shutterstock
Pic: Shutterstock
China's exports fell by 1 per cent on-year in August, according to official statistics released on September 8. The drop followed a 3.3 per cent rebound in July despite the year-long trade war with the United States and weakening global demand. China's trade surplus also dropped sharply in August to $34.83 billion, from $44.58 billion the previous month.

China’s imports continued a four-month decline at 5.6 per cent on-year, matching the July figure, according to a global newswire.

Beijing's central bank announced on September 6 that it would cut deposit reserve requirements for banks. The measure would allow $126 billion in additional loans to businesses facing an economic slowdown.

The country’s gross domestic product (GDP) growth was 6.2 per cent on-year in the second quarter, the lowest in about three decades. (DS)

Fibre2Fashion News Desk – India


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