EnglishChina"s exports dropped last month, for the first time in the last seven years, which shows that the recession in the US, Europe and Japan affect the output of the world"s fourth largest economy.
Chinese exports dropped 2,2% in November 2008, as against November 2007, to 115 billion dollars, according to the Customs Office"s announcement issued yesterday. The amount of exported goods has reached an eight month low. In November, China"s imports dropped 17,9%, to 75 billion dollars.
It"s worth noting that in October 2008, China"s exports rose 19,2%, and imports rose 15,6%, respectively, which means the experts weren"t expecting their November drop.
The analysts consider that the numbers published yesterday are extremely disappointing, as China shrinking imports shows that domestic demand is decreasing, as the economy is weakening.
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