In early 2025, China experienced an 8.4% year-on-year decline in imports, contrary to economists' expectations of a 1% growth. This downturn signals potential cuts in Chinese manufacturing due to worries over demand falling from anticipated US tariffs. Meanwhile, exports showed slight growth of 2.3%, with a significant rise in tech-related imports, including a 54.4% increase in automatic data processing equipment. However, various commodity imports like crude oil and agricultural products, particularly soybeans, also saw substantial declines, further complicating China's trade landscape amid increasing tensions with the US.
China's imports have seen an unexpected 8.4% decline in January and February 2025, indicating deep concerns over the potential impact of US trade tensions.
Despite strong tech-related imports, most other categories in China's import data have weakened, showing a general contraction in commodities and some agricultural products.
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