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Export decline in China - analysis of March figures
China's exports are falling: economic development and trade relations in focus. Current figures and analyzes on the situation in China. #Exports #Economic Growth #Trade Relations
Export decline in China - analysis of March figures
China's export sector recorded a noticeable decline compared to the same period last year. According to the customs authority in Beijing, exports fell by 7.5 percent to almost 280 billion US dollars, while imports fell by 1.9 percent. This decline was sharper than expected by analysts, who had even expected imports to grow.
Not only did China's overall trade suffer from this trend, but trade with Germany also showed a noticeable decline. Exports to the Federal Republic fell by 12.4 percent, while imports fell by 13.7 percent. Similar developments were also observed in Chinese trade with the USA and the EU. These tendencies could play a central role in the upcoming talks between Chancellor Olaf Scholz and Chinese officials.
In the summer of the previous year, the Chinese government had drawn up a strategy to reduce dependence on China in critical areas, which was met with criticism from Beijing. Despite declining import and export figures, the Federal Republic remains closely linked to many German companies active in China, particularly in the automotive industry, which poses potential risks.
In the previous year, China's export-oriented economy recorded a significant decline in exports of 4.6 percent. Despite these challenges, the Chinese government is targeting economic growth of around five percent for the current year. This development could also pose risks for other countries, as the Chinese economy plays a key role in the global trade landscape and has potential impacts on international markets.