situation report

China: Exports Fall 3.2 Percent in Largest Drop Since February

1 MIN READOct 14, 2019 | 12:49 GMT

What Happened: Chinese exports fell by 3.2 percent in September year on year, marking their largest drop since February, the South China Morning Post reported Oct. 14.

Why It Matters: An 8.5 percent decline in imports showcased weakening domestic demand, putting China's trade surplus at $39.65 billion for September. At the same time, the ongoing trade war also weighed on Chinese trade data, with exports to the United States dropping 21.9 percent to $36.5 billion, while U.S. imports fell 20.5 percent over the previous year.

Background: China and the United States reached a "phase one" trade deal on Oct. 11, delaying U.S. tariff increases on $250 billion of Chinese goods that were scheduled for Oct. 15.

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