Exports fall 21.4% in June

Exports from China fell again in June, by 21.4% year-on-year, AP reported. The decline was less severe than the record drop of 26.4% in May. The effect of the decline was seen in the port of Shenzhen, where total container throughput declined 19.8% year on year to 1.41 million twenty-foot equivalent units (TEU) in June, a steeper decline than the 17.7% drop in May. China’s June’s imports shrank by 13.2%, a slower rate of decline than May’s 25.2% drop and January’s record 43.1% fall. Throughput of goods-laden containers totaled 970,000 TEU in Shenzhen in June, a 0.6% decline from May. Analysts said that container throughput at the mainland’s major ports declined 14% year on year last month and 9% from May. The decline includes a year-on-year drop of 18% and a seasonally adjusted month-on-month decline of 9% in container throughput in Shanghai. China’s global trade surplus narrowed to US$8.2 billion in June.