China's Exports Crashed 20% In February

Containers and trucks are seen following a snowfall at the port of Qingdao. Reuters

ABC News Online: China heads for a trade recession as exports crash 20pc, and that's bad news for Australia

China's export effort appears to have finally cracked under sustained pressure from US tariffs and a slowdown in global trade.

Exports in US dollar terms fell 20.7 per cent in February, far worse than a 5 per cent drop the market had forecast.

Imports fell by 5.2 per cent, which was also far weaker than expected.

The collapse in both domestic and external demand is bad news for Australian exporters relying on China, and the region, as their most lucrative source of income.

China's overall trade surplus for the month came to $US4.1 billion — wafer thin by its usual standards, and far narrower than the almost $US30 billion forecast.

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WNU Editor: I am sure the Chinese are hoping that this is a one-off. It is going to take a few months before anyone can say that this is the trend.

More News On China's Exports Crashing 20% In February

US-China trade decline leads to 20.7 per cent plunge in China’s total exports in February -- SCMP
China exports saw biggest fall in three years in February -- BBC
Chinese exports fall amid US tariffs, weak global demand -- AP
China February exports tumble the most in three years, spur fears of 'trade recession' -- Reuters
China's 21% plunge in exports shows weakening global economy -- CNN

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