China trade shrinks amid virus pressure, interest rate hikes
BEIJING (AP) — China’s imports and exports shrank in November under pressure from weakening global demand and anti-virus controls at home.
Exports sank 9% from a year ago to $296.1 billion, worsening from October’s 0.9% decline, customs data showed Wednesday. Imports fell 10.9% to $226.2 billion, down from the previous month’s 0.7% retreat in a sign of a deepening Chinese economic slowdown.
The country’s global trade surplus narrowed by 2.5% from a year earlier to $69.9 billion.