China exports decline slower than expected in August as economy remains under pressure

By ZEN SOO
Associated Press

HONG KONG (AP) — China’s exports declined at a slower pace in August, even as the world’s second biggest economy remains under pressure. Customs data released Thursday showed exports for August slumped 8.8% from the same time last year, totaling $284.87 billion. That was slower than the 14.5% last month. Imports slid 7.3% from a year ago to $216.51 billion, but beat consensus estimates of a 9% decline. China’s trade surplus contracted 13.2% to $68.36 billion, lower than the $80.6 billion in July. The Chinese economy has slowed from weaker demand domestically and overseas, after a post-COVID rebound fizzled earlier than expected.