Economic Buzz: Chinas Trade Affected By Zero Covid Policy

7 Dec 2022 , 01:07 PM

Chinas exports and imports fell more than expected in November as strict Covid restrictions continued to disrupt supply chains as well as consumption, further darkening the growth outlook for the biggest Asian economy amid signs of an imminent global recession. Chinese shipments registered an annual decrease of 8.7 percent in November, data from the General Administration of Customs revealed. Likewise, imports to China decreased the most since the middle of 2020. Imports fell 10.6 percent annually, bigger than the expected 5.0 percent fall and Octobers 0.7 percent decrease. As a result, Chinas trade balance showed a surplus $69.84 billion, which was below the expected level of $79.05 billion. Powered by Commodity Insights