Your English writing platform
Discover LudwigExact(60)
For all the fall in exports, imports have fallen faster: exports were down 21.8% year-on-year in the first half, to $521.5 billion; imports were down 25.4%, to $424.6 billion, over the same period, pushing up the trade surplus for the six months to $96.9 billion.
But in the past three months their total output may have fallen slightly, according to JPMorgan, as the fall in exports was exacerbated by a sudden drying up in trade finance.
Thus the impact on GDP growth of a fall in exports is partially offset if imports fall too.
Most of the decline comes from a drop in non-residential investment and a fall in exports.
Economists had expected a $28.7 billion surplus based on a 10.8percentt fall in exports and a 28.5percentt drop in imports from year-earlier levels.
The decline reflected a big drop in military spending, slower business stockpiling and a fall in exports.
Exports account for over 40% of China's GDP, so some economists predict that a fall in exports as a result of a downturn in America would create massive excess capacity and a sharp fall in profits and investment the making of a nasty hard landing.
The fall in exports was the first since 2001.
The fall in exports also accelerated.
Another reason is a fall in exports to Europe's faltering market.
The figure was well below expectations, dragged down by a fall in exports and investment.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com