China exports falling

The reduction in export shipping volumes through China’s ports is beginning to reflect the downturn in consumer demand in the Western economies.  Having been on a steep expansion trajectory for many years, China is now showing signs of feeling the effect of shrinking consumer confidence; the port of Shanghai, the largest in China, has seen a 17% to 19% reduction over the previous year, whilst Shenzhen experienced an even worse reduction, in the region of 21%.  An industry spokesman said there there was an increase in exports of loaded boxes at the end of February, and the Chinese government has launched a huge stimulus package, so predictions for the future are not all bad. Nevertheless, empty freight containers are piling up in Chinese ports, causing difficulties for operational efficiency.