Chinese exports slump further, dragged down by weak demand
Chinese foreign trade declined again in August, continuing a trend of falling exports every month since April.
Exports from the second-largest economy fell by 8.8 per cent year-on-year in August, the customs authority in Beijing announced on Thursday.
According to official data, imports also fell again compared to August last year, down 7.3 per cent. However, analysts had expected even greater losses.
The outlook for the Chinese economy was becoming increasingly gloomy as a strong start to the year lost momentum.
The Chinese economy is suffering from weak global demand, a struggling real estate market and persistently weak domestic consumption.
(dpa/NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Opinion
Bola Tinubu’s presidency enters Kafka’s world
Appearance acquires greater authority than fact itself.
Politics
Abia, Anambra seek peaceful principles in boundary conflict resolutions
The governments of Anambra and Abia have vowed to apply principles of peaceful resolution to address the lingering interstate boundary disputes between them.
Abuja
Tinubu seeks stronger partnership with Rotary
Mr Tinubu has called for stronger collaboration between the Nigerian government and Rotary International in healthcare, education, youth empowerment and community development.
Port Harcourt
Army honours 11 cadets killed in training accident
Army chief Waidi Shaibu, on Sunday, unveiled a cenotaph in honour of 11 Nigerian Defence Academy naval cadets who died in a boat accident during training in 1990.
Economy
Coastal state governors urged to adopt AU fisheries framework
Coastal state governors have been urged to domesticate the African Union Policy Framework and Reform Strategy for Fisheries and Aquaculture.
States
Kano: Gov Yusuf spends N928 billion on community development projects
The Kano government says it has spent over N928 billion on the execution of 1,508 community development projects in the last three years of Governor Abba Yusuf’s administration.
