China’s imports and exports fell for four months in a row, but the decline narrowed and was better than expected

China Customs announced on Thursday that the total export volume in August decreased by 8.8% compared with the same period of last year, which is the fourth consecutive month that China’s export data has declined.

Meanwhile, the General Administration of Customs of China said that the total import volume in August decreased by 7.3% compared with last year.

Since the spring, China’s economic growth has slowed down, house prices have fallen, and the confidence of consumers and investors has been shaken. These new figures reflect the weak demand in China and abroad.

It is reported that economists’ forecast of China’s import and export data in August is even worse. A survey in Reuters estimated that exports dropped by 9.2% and imports dropped by 9% in August. Exports in July plunged by 14.5% compared with the same period last year.

After the epidemic ended, families all over the world turned to tourism, restaurants and other services, and China was no exception. During the epidemic period, many families stocked all kinds of manufactured goods, which usually came from China, which has by far the largest factory department in the world.

The monthly import and export data is one of the initial indicators reflecting the economic performance of China in the previous month. This year’s data is particularly important in the important stage of economic recovery after the epidemic.

The data released on Thursday is the latest sign that the overall demand for goods in China may have bottomed out. Louise Loo, an economist at Oxford Economic Research Institute, a consulting firm in Singapore, said, “The improvement in import and export data has convinced us that July should be the lowest point of economic activity in China.”

Although China’s export this year is weak, it is a decline compared with the extremely high level during the epidemic period. China remains the world’s top industrial power.

A recent research report published by China Beige Book, an economic research institution, said, “The export orders in Europe and America are not optimistic, but they are experiencing steady and rapid growth in Asia and other regions.