China’s foreign trade grew by 7.1 percent – and thus slowed down unexpectedly

Beijing China’s export growth has surprisingly slowed. In August, exports calculated in US dollars only increased by 7.1 percent compared to the same period last year, as reported by Chinese customs on Wednesday in Beijing. Experts had expected double-digit growth after exports rose by 18 percent in July.

Imports also developed worse than forecast with an increase of only 0.3 percent. In July, an increase of 2.3 percent was recorded.

According to experts, the background to this is the bad mood among Chinese consumers and the crisis in the real estate market in China. Exports are suffering primarily from weaker global demand due to rising inflation.

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