look news india
Mumbai: China's export growth fell to a three-month low in July, raising concerns about its manufacturing sector. Export growth has slowed, while China's imports have increased.
China's exports grew by 7 percent in July, which is much lower than the expectation of 9.70 percent growth. The export growth figure in June was 8.60 percent.
China's export growth is expected to remain in single digits in the near future. A report quoted a Chinese economist as saying that sluggish export demand and tariffs would result in heavy pressure on exports in the last half of 2024.
China's imports fell by 2.30% in June, while in July it saw a rise of 7.20%. Imports also remained at a three-month high. An analyst said that although imports by the manufacturing sector have increased, the performance of companies whose exports have slowed down cannot be ruled out.
After the Corona period, Chinese authorities announced incentives to boost the country's trade, so as to increase demand and support domestic business. Chinese consumer confidence has currently fallen sharply as a result of the decline in the real estate market and uncertainty over job security.
