Although analysts expected a slowdown, they still expected exports to increase. Imports also decreased by 0.7 percent compared to October of the previous year.
Observers cited weak global demand as the reason for the decline. Additionally, the ongoing strict corona restrictions in China will lead to ongoing problems in their supply chains. Chinese export machinery had already lost momentum in previous months.
China’s trade with Germany also fell markedly again by 5.7 percent in October. China’s exports to Germany fell by 10.9 percent. China’s imports from Germany rose slightly by 0.5 percent. China’s exports to the European Union fell by 7.7 percent, while China’s imports from Europe fell by 5.1 percent.
China’s foreign trade with the United States fell particularly sharply by 10.4 percent. China’s exports to the USA fell by 12.6%, while imports from the USA fell 1.5%.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
