Posted on January 17, 2024

Amid the economic crisis, exports from China saw a downfall for the first time since 2016. Global demand for Chinese-made goods slowed in 2023, according to Customs Data.

The Chinese economy is struggling with deflationary pressures. Consumer price inflation in 2023 was the weakest it has been in 14 years.

Chinese exports were measured at USD 3.38 trillion in 2023, down by 4.6 per cent compared to the year before. In 2022, Chinese exports had increased by 7 per cent from the year earlier.

The last time China registered a decline in overseas shipments was in 2016 when exports fell 7.7 per cent.
Imports also fell last year, by 5.5 per cent to USD 2.56 trillion.

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