Chinese exports slowed sharply in September, and concerns have grown about the future of its economy

the Chinese exports slowed sharply in September due to… Weak global demandWhich exacerbates concerns about how to revive growth in the world’s second-largest economy.

the Exports increased by 2.4% in dollar terms last month, compared to annual growth of 8.7%. It was registered in August, China’s customs office said Monday.

the Imports rose by only 0.3% in September.

Economists have estimated this Exports will increase by about 6% Imports will increase by about 0.9%.

China registered a Trade surplus of $81.7 billion In September, less than 91,000 million in August.

Chinese leaders are seeking this Revitalizing the economy Since the end of the Covid-19 pandemic.

The United States and Europe recently increased tariffs on Chinese exports of electric vehicles And other products, which casts a shadow on the prospects for Chinese trade as an engine of growth. The weak increase in imports reflects a slowdown in demand, partly due to the crisis The continued decline in the real estate sectorone of the main drivers of sales of all types of products.

Other data released on Monday showed a Weaken inflation And one Low wholesale prices From manufacturers.

Decision makers in Beijing have announced a series of… Measures to boost the economyIncluding the early distribution of 200 billion yuan (US$28.2 billion) from next year’s budget for construction and project expenses. At the end of the week, the Minister of Finance. Lan vonHe reiterated that the government is considering further measures to drive faster growth.

But Lan and other officials have yet to provide a stimulus of the size that economists say is needed to lift the economy out of recession.

So far this year until the end of September. Chinese exports rose by 4.3% year on yearfavored by the increase in automobile shipments, which rose more than 20%According to a report issued by ING Economics. But exports in general are slowing down.

As this growth engine stagnates, other areas of the economy, such as investment and consumption, will have to give a boost. A step forward to complete this year’s growth goalsThe report notes, referring to the government’s goal of achieving annual economic growth of about 5% this year.

Zichun HuangHe noted, from Capital Economics, in a note that if the government fulfills its promises to increase spending, it can do so – Promoting imports of various goodsIncluding industrial materials.

At the beginning of the year, The Chinese export sector was the main supporting factor To their manufacturers.

“We believe shipments will remain strong in the short term“Supported by increasing export competitiveness,” Zichun Huang of Capital Economics said in a note. “But it will likely happen later “Rising trade barriers are becoming an increasing constraint.”.

(With information from AP)