An unexpected decrease of 1% is reflected
Chinese exports fall due to trade war
Chinese exports during the month of August fell 1%, according to official data published earlier today. This is an unexpected decline: last month they increased 3.3% and a recent survey of Bloomberg experts predicted that the trend would continue with a growth of 2.1%. These losses, a direct consequence of the resurgence of the commercial war with the United States, represent a significant change in the pattern for a country accustomed to double digits in its exports during most of the last two decades.
Imports also lost 5.6%, a figure that consolidates an arduous year in this section that chains several months of red numbers. This pattern, which corresponds to a continued economic slowdown, is an important headache for the government, which aspires to move towards a new model in which domestic consumption has greater weight. Given both falls, China maintains a surplus in its balance of more than 31,000 million euros.
The deployment of the data confirms that the impact of the trade war is the central cause of the decline. The final figure is driven by the collapse of exports to the United States, 16% on an annual basis, which adds up to 6.5% in July. Imports also sank 22.3