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China exports see biggest drop for three years

2023-08-08 08:14
Global demand for Chinese goods has fallen as the cost of living and rising interest rates bite.
China exports see biggest drop for three years

China's imports and exports fell at a much faster than expected pace last month as weaker global demand threatens the recovery prospects of the world's second-largest economy.

Official figures show that exports fell by 14.5% in July compared with a year earlier, while imports dropped 12.4%.