China’s trade declined again in January and February due to falling demand from the US and Europe. Demand in the US and Europe has been affected amid rising interest rates.
In such a situation, China’s efforts to accelerate economic growth have also suffered a setback. This information was received from the data released on Tuesday by the Customs Department of China. According to this, China’s exports have declined by 6.8 percent year-on-year to $506.3 billion in the last two months.
However, the situation has improved slightly as compared to the 10.1 per cent decline recorded in December. China’s imports declined by 10.2 percent to $389.4 billion in January-February. In December, this decline was 7.3 percent. However, China’s trade surplus increased by 0.8 percent to $116.9 billion in the last two months.
After lifting the restrictions related to the Kovid epidemic, China is now trying to speed up its economic activities. But due to sluggish demand in Europe and America, its business is not getting a boost.
