Top in the last five years: Exports from China to the United States have fallen hard

Chinese exports to the United States fell 34.5% compared to last year, which has been the most sharp fall since February 2020, when the Covid-19 Pandemya violated trade. It was written by CNBC.

Importing from the United States fell over 18%, and the positive balance of China’s trade balance in states was reduced by 41.55% in the annual calculation of $ 18 billion.

Last month, total export grew 4.8% in dollars terms compared to last year.

In May, imports fell 3.4% compared to last year, which was a sharp fall compared to economists’ expectations about reducing 0.9%. This year, imports have been reduced mainly due to lazy domestic demand.

It is noted mainly compensated by supply in Southeast Asian countries, which has grown nearly 15% compared to last year, as well as in European Union and African countries, growing 12% or more than 33%, respectively.

China’s total trade balance increased 25% compared to last year to $ 103.2 billion in May.

“However, exporting in May exports will significantly slow down compared to April’s promotion of 8.1%, when a sharp increase in supplies in Southeast Asian countries has been paid for a sharp collapse in exporting goods in the United States.

Keep in mind that the United States should temporarily reduce China’s goods from 145% to 30%, and China should reduce duties in American imports from 125% to 10%. Countries also agreed to create a “mechanism for ongoing discussion of economic and trade relations.”