Home
News
默认头像

China Imports Fall 14.3% While Exports Drop 6.1%

2024-06-22OANDAOANDA
China’s imports in August fell 14.3% in yuan-denominated terms from a year ago, while exports fell by 6.1%. The steep fall in the value of imports reflects lower commodity prices globally, particularly crude oil. The numbers mean China’s monthly trade surplus expanded by close to 40% from the month earlier to 368bn yuan ($57.8bn; £37.7bn). […]

China’s imports in August fell 14.3% in yuan-denominated terms from a year ago, while exports fell by 6.1%.

The steep fall in the value of imports reflects lower commodity prices globally, particularly crude oil.

The numbers mean China’s monthly trade surplus expanded by close to 40% from the month earlier to 368bn yuan ($57.8bn; £37.7bn).

China recently revised down its 2014 economic growth from 7.4% to 7.3%, its weakest for almost 25 years.

In US dollar denominated terms, exports for the month of August fell 5.5% from a year earlier – slightly less than expected – while imports fell by 13.8%, leaving China with a surplus of $60.24bn.

Currency conversion factors based on US dollar and Chinese yuan movements over the last year mean some official numbers from the mainland are now reported in both currencies.

Disclaimers

The article is sourced from oanda with the original source credited. The views expressed herein are not affiliated with FXOR; readers are encouraged to approach the content rationally. Copyright belongs to the original author. If unintentional infringement upon media or personal intellectual property rights has occurred, please contact us, and we will promptly remove the content. FXOR merely provides information storage services. The article is compiled and released by FXOR; reprints must indicate the original source.