Chinese trade volumes saw a sharp decline in June as the economy struggles

Posted on July 17, 2023   |  

In June, China’s exports fell annually by 12.4% and imports also fell by 8% more than expected, the most in 3 years due to mounting pressure from the struggling global economy and Chinese policymakers facing high pressure for stimulus measures.

In July, South Korean shipments to China, fell by 19%, the smallest decline since October but indicating a weak demand for semiconductors and other components.

Demand for raw materials also slowed as copper imports fell by 16.4% in June compared with a year earlier.