BEIJING-China’s exports continued to fall in dollar terms in August compared with a year earlier-though at a slower pace-as global demand for goods from the world’s second-largest economy remained sluggish.
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Exports fell 2.8 per cent last month in United States dollar terms from the same period a year ago, according to data released by the General Administration of Customs on Thursday.
Exports fell 2.8 per cent from a year earlier, the General Administration of Customs said on Thursday (Sept 8), adding that pressure on shipments was expected to ease further in the fourth quarter.
The export gain was a positive sign for Chinese leaders who are trying to protect millions of trade-supported jobs.
The trade figures recovered from a worse-than-expected performance in July, when imports plunged 12.5 percent on-year, weighed down by weaker commodity prices and lacklustre domestic demand.
Its economy expanded 6.9 percent previous year, its weakest rate in a quarter of a century.
The Australian dollar, considered a proxy for China’s economy, edged up to USD 0.7683 against the greenback, from USD 0.7677 ahead of the data. Those plans call for nurturing domestic consumer demand but are based on holding exports steady to avoid politically risky job losses.
The trade surplus inched down to US$52.05 billion from July’s US$52.3 billion.
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The trade surplus with the 28-nation European Union, China’s biggest trading partner, was $13.6 billion.
