China’s exports have suffered their biggest year-on-year decline since the start of the coronavirus pandemic, adding to concerns over the growth trajectory of the world’s second-largest economy, reports the Financial Times. June exports declined 12.4% year on year in dollar terms, official data showed on Thursday, the biggest drop since February 2020. Economists polled by Reuters expected declines of 9.5%.Imports fell 6.8%, also exceeding expectations. In May, exports and imports fell 7.5% and 4.5% respectively. China’s exports this year have been hit by weaker international demand at a time when the economy is already strained by a struggling property sector and a disappointing rebound after COVID-19 controls were lifted at the start of the year.Youth unemployment has also reached its highest point since China started providing the data in 2018, while lacklustre consumer demand has helped to push the country to the brink of deflation. (ICE PECHINO)

Fonte notizia: China Economic Review