Chinese exports fell for the first time since May 2020.
According to the General Administration of Chinese Customs on the 7th, dollar exports in October were $ 29.37 billion, down 0.3% from the same month a year earlier.
It is the first time that exports have shown a downward trend since they recorded a 3.3% decline in May 2020.
This was less than the 4.3% increase expected by the market and was unexpected, Reuters said.
He also pointed out that Chinese exporters have not been able to take full advantage of the depreciation of the yuan since April and the main end-of-year shopping items.
Meanwhile, Chinese imports last month also fell 0.7% year-on-year to $ 213.2 billion.
He also said the size of China’s trade surplus last month was $ 85.15 billion, below market expectations.
VOA News
