China’s export growth dips to 2.4% in September, signaling slower global trade

Posted on October 16, 2024   |  

In September, China's exports grew by 2.4%, a sharp drop from the 8.7% growth in August, showing weaker global demand.

Imports in September increased by just 0.3%, falling short of the expected 0.9%, indicating weak domestic demand.

The trade surplus decreased to $81.7 billion in September, down from $91 billion in August.

Economists expected exports to rise by 6%, but the actual growth was much lower, raising concerns about the recovery.

Higher tariffs from the U.S. and Europe on China’s electric vehicles and other goods have worsened the trade outlook.

China’s government has introduced measures to boost the economy, including bringing forward 200 billion yuan ($28.2 billion) for infrastructure projects.

So far this year, exports have grown by 4.3%, with auto shipments rising by over 20%.