China trade data has weakened to the lowest level in early 2020

Due to the continuous weakness of external demand and the heating up of the epidemic, and reducing domestic demand, the decline in imports and exports in China in November both increased.

According to Bloomberg report, the China Customs General Administration released data on Wednesday (7th), and in November, the export of US dollars was 8.7%year -on -year.This is the biggest decline since the trade of the first epidemic prevention in February 2020.The decline is more than 3.9%of the estimated economists, and the decrease of 0.3%last month.

The decline in imports also expanded from 0.7%in October to 10.6%, and the estimated median value decreased by 7.1%.Data show that the trade surplus in November was reduced to US $ 69.8 billion (S $ 94.831 billion).

The deterioration of trade performance is weakening the strong pillar that supports the Chinese economy in the past two years, and export growth has grown to a record level to provide stable demand for Chinese enterprises.Raising the temperature and the implementation of the control in many places.The government is seeking to relax the zero -epidemic and defense policy to reduce its impact on the economy, but policy makers may need to increase more stimulating measures.

A series of early indicators tracked by Bloomberg show that China's economy may decline due to the heating of the epidemic in November. If personnel flow and production continue to be interrupted, this situation may continue until this month.Economists now believe that economic growth this year is only 3.2%.

With the slowdown of the world economy and the interest rate hike in major economies to cope with the still high inflation, external demand will continue to weaken.In addition, with the new normal of Southeast Asia's factories to return to the post -epidemic situation, its competitive situation has intensified, and China has also been in the epidemic prevention and control measures and the interference of the epidemic.

The transportation cost of exported goods from China has plummeted. It can be clearly seen that the demand has declined, and China's freight is returned to the level of mid -2020.