Chinese exports fell 1.1 per cent in October, marking the worst monthly decline since February and underscoring the country's continued dependence on US demand despite efforts to diversify trade, reported Reuters.
The drop followed months of accelerated shipments to the US aimed at beating tariffs imposed by President Donald Trump. Economists said the downturn highlights China's vulnerability to shifts in American consumption, even as Beijing seeks new markets.
Since Trump's re-election last November, china has intensified efforts to expand trade with Southeast Asia and the European Union, anticipating renewed tensions with Washington. However, no market rivals the US, which buys over US$400 billion in Chinese goods annually.
Economists estimate the loss of US sales has shaved about two percentage points off China's export growth, equivalent to roughly 0.3 per cent of GDP. The October figures reversed an 8.3 per cent rise in September and fell short of the three per cent growth forecast in a Reuters poll.
SeaNews Turkey
The drop followed months of accelerated shipments to the US aimed at beating tariffs imposed by President Donald Trump. Economists said the downturn highlights China's vulnerability to shifts in American consumption, even as Beijing seeks new markets.
Since Trump's re-election last November, china has intensified efforts to expand trade with Southeast Asia and the European Union, anticipating renewed tensions with Washington. However, no market rivals the US, which buys over US$400 billion in Chinese goods annually.
Economists estimate the loss of US sales has shaved about two percentage points off China's export growth, equivalent to roughly 0.3 per cent of GDP. The October figures reversed an 8.3 per cent rise in September and fell short of the three per cent growth forecast in a Reuters poll.
SeaNews Turkey
