China Exports Dip as Global Economy Falters

14 July 2008

BEIJING: The global economic squeeze is impacting on China's exports, which saw growth of 18.2% in June, the slowest expansion for four months.  

The figures contrast sharply with May's 28% rise and have led to a 20% fall in the country's trade surplus, compared with a year earlier. Exports stood at $121.5bn (€76.8bn; £61.4bn) in June.

Increasing demand for overseas resources drove imports up 23.7% to $100.1bn.

The Chinese government may now take steps to slow the growth of the yuan, which is making exports even more expensive against the backdrop of the worldwide downturn.

Data sourced from BBC Online; additional content by WARC staff