Chinese exports fell 12.4% in June, the biggest drop since March 2020

MADRID, 13 Jul. (EUROPA PRESS) -

Chinese exports added a total of 285,321 million dollars (257,679 million euros) last June, which represents a year-on-year decline of 12.4%, the second consecutive and the biggest drop since March 2020, after the outbreak of the Covid-19 pandemic, according to information in dollars from the General Administration of Customs of China.

On the other hand, imports from China added a total value of 214,700 million dollars (193,900 million euros) in the sixth month of the year, a figure that represents a drop of 6.8% compared to the same month of 2022.

In general, the volume of China's trade in the month of June reached a value of 500,023 million dollars (451,580 million euros), 10.1% below that registered in the same month of 2022.

"As the global drop in demand for goods continues to weigh on exports, we think exports will decline further for now before bottoming out towards the end of the year," said Zichun Huang, China economist at Capital Economics.

However, the expert points out that "the good news is that the worst of the fall in external demand is probably already behind us", since the recessions that affect the developed economies are likely to be mild and will only have a limited impact on Chinese exports.

In the month of June, the Asian giant reduced its exports to the European Union by 12.9% annually, up to 43,955 million dollars (39,696 million euros), while imports totaled 24,869 million dollars (22,459 million euros). , 0.7% less.

In the case of the United States, Chinese exports decreased by 23.7%, to 42,694 million dollars (38,558 million euros) and imports fell 4.1%, to 13,973 million dollars (12,619 million euros).

Likewise, sales from China to its Russian neighbor increased by 91% annually in June, to 9,551 million dollars (8,625 million euros), while imports from Russia increased by 15.7%, to 11,280 million dollars (10,187 millions of euros).