× Business BUSINESS MOTORING SHIPPING & LOGISTICS DR PESA FINANCIAL STANDARD Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Fact Check Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS
×

China exports, imports in deeper contraction as tariffs take toll

NEWS
By Reuters | October 14th 2019
A truck transports a container at a port in Qingdao, Shandong province, China on July 11, 2019. [Reuters]

A slide in China’s exports picked up pace in September while imports contracted for a fifth straight month, pointing to further weakness in the economy and underlining the need for more stimulus as the Sino-US trade war drags on.

Analysts say it could take time for Chinese exports to recover amid slowing global growth despite tentative signs of a thaw in tense trade relations between the world’s top two economies.

On Friday, US President Donald Trump outlined the first phase of a deal to end the trade war with China and suspended a threatened tariff hike set for October 15. But existing tariffs remain in place and officials on both sides said much more work needed to be done.

September exports fell 3.2 per cent from a year earlier, the biggest fall since February, customs data showed on Monday. Analysts had expected a 3 per cent decline in a Reuters poll after August’s 1 per cent drop.

“The headline figures suggest that global demand softened last month, adding to the pressure from the US tariffs that went into effect in September,” said analysts at Capital Economics.

Share this story
KENHA shame over Thika Road foot bridges
KENHA has so far done a good job going by the record-breaking roads construction and upgrades being undertaken across the country.
Dog walking becomes the newest hustle in town
Dog walking is now a status symbol. Owning a pet is cool. I nowadays meet lots of Kenyans and foreigners walking their dogs and some running.
.
RECOMMENDED NEWS
Feedback