Mexican Media Brands
China’s Export Volume Shrinks
China says its export volume fell 1% in August, led by a 16% drop in shipments to the U.S.
#economics
Share
China says its export volume fell 1% in August, led by a 16% drop in shipments to the U.S.
China’s export volumes to Europe, South Korea and southeast Asia also declined last month, according to the government’s customs agency. Economists had expected that China’s exports would grow more than 2%.
China’s import volume dropped 6% last month, leaving the company with a global trade surplus of $34.8 billion, including a $27 billion with the U.S.
Analysts say China’s export volume appears likely to decline further through the end of 2019 as the U.S. applies more tariffs on the country’s goods in October and December. Some analysts don’t expects the two countries to end their trade war until late 2020 at the earliest.
China’s shrinking export volume comes even as the nation’s currency weakened last month to more than 7 yuan per U.S. dollar, its lowest in more than 11 years. A weaker currency, which makes Chinese goods cheaper in foreign markets, bolsters exports. But analysts say China also is feeling the effect of a general cooling across the global economy.
RELATED CONTENT
-
All About the 2018 Honda Accord
The common wisdom seems to be that midsize cars have pretty much had it in the U.S. new car market.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.