China’s exports suffered the sharpest decline in almost three years in December, piling on further economic pressure as policymakers in Beijing grapple with sluggish economic growth and a nationwide outbreak of Covid-19.
Exports declined 9.9 per cent year on year in dollar terms in December, according to official data released on Friday by China’s general administration of customs, worse than November’s 8.7 per cent fall but slightly outperforming expectations of an even greater contraction. Imports slid 7.5 per cent last month, up from a 10.6 drop the month before.
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