[ad_1]
BEIJING, Dec. 7 (AP) — China’s imports and exports shrank in November as weakening global demand and anti-virus controls weighed on the second-largest economy.
Exports fell 9% from a year earlier to $296.1 billion, customs data showed on Wednesday, worsening from a 0.9% drop in October. Imports fell 10.90% to $226.2 billion, down from a 0.7% drop the previous month.
Read also | Chinese President Xi Jinping visits Saudi Arabia to boost the economy.
The country’s global trade surplus narrowed 2.5% from a year earlier to $69.9 billion.
China’s trade is expected to weaken as global demand cools as the Federal Reserve and central banks in Europe and Asia raise interest rates to curb soaring inflation.
Read also | Shocking America: Man kills teen with drugs and later dumps her body in Florida.
Consumer demand in China has been hurt by the “Zero COVID” strategy, which has repeatedly shut down most cities to contain the virus outbreak.
This has disrupted businesses and confined millions of people to their homes for weeks at a time. (Associated Press)
(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)
[ad_2]
Source link