January 10, 2025 02:23 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Los Angeles wildfire toll climbs to 10, thousands of structures destroyed | 8 labourers still trapped in Assam's flooded mine even after 3 days of rescue ops | SC refuses to hear petitions seeking review of its same-sex marriage judgement, says there is 'no error' | 'They should wind up the alliance': Omar Abdullah on AAP-Congress fight over Delhi elections | Pune woman killed by her colleague in full public view for not paying back his money, no one intervenes | Los Angeles wildfire leaves 5 dead, forces 1 lakh including celebs to flee, Hollywood hills ablazed | PM Modi condoles death of six people in Tirupati stampede incident | Days after condemning Pak airstrikes, India in a first engages with Afghanistan's Taliban regime | 6 dead in stampede near Tirupati temple during token distribution to offer prayers | Prominent journalist-film producer Pritish Nandy dies of cardiac arrest at 73
China
Photo Courtesy: Unsplash

China's export drops for first time in seven years

| @indiablooms | Jan 15, 2024, at 04:03 am

China's exports are witnessing a downfall for the first time since 2016 after demand for Chinese-made goods slowed down, media reports said.

Officials told CNN that the slump will be difficult to shake off in 2024.

China is struggling to stem deflationary pressures.

China, the world's second-largest economy, witnessed its consumer price inflation in 2023 touching its weakest point in 14 years.

The consumer price index for December improved slightly from November, but was down 0.3% on the same month in 2022, the National Bureau of Statistics said Friday. For 2023 as a whole, prices were up by just 0.2 percent over 2022, the weakest reading since 2009, when CPI fell by 0.7 percent as a global recession hit, reported CNN.

Exports measured in US dollar terms stood at $3.38 trillion in 2023, down by 4.6 percent compared to the year before. In 2022, Chinese exports increased by 7% from the year earlier, the American news channel reported.

In 2016, China registered a decline in overseas shipments when exports dropped by 7.7 percent.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Images
Xi Jinping, Putin in Russia Mar 22, 2023, at 08:26 pm