China recorded its biggest drop in exports since 2020, as the world's second-largest economy suffers from weak global demand and an internal slowdown.
Sales of Chinese goods in overseas markets fell 14.5 percent at an annual rate last month, recording a third consecutive month of contraction, according to dollar figures released by the Chinese customs authority. The decline was the largest since a 17.2 percent drop in January-February 2020 when China's economy was crippled in the early weeks of the COVID-19 pandemic.
Chinese exports fell 12.4 percent at an annual rate in June. Imports shrank 12.4 percent year-on-year in July.
Source (Al-Arabiya.net Website, Edited)
