(MENAFN) Official data showed that China's total trade slumped in the first half of this year, falling well short of the government's targets and dealing a blow to the global economy, The Peninsula Qatar reported.
Trade for the world's second-largest economy and a key driver of global growth the in the first six months of the year fell 6.9 percent to USD1.88 trillion, the General Administration of Customs said.
For June, imports fell for the eighth consecutive month, dropping 6.1 percent to USD145.48 billion, while exports increased 2.8 percent to USD192.01 billion, driving the trade surplus to USD46.5 billion.
"Commodity prices fell significantly, dragging down growth in import value," Customs spokesman told reporters, adding that "sluggish foreign demand was the major factor affecting trade growth."
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.