Decline in China's exports and imports

China reported another monthly decline in imports and exports, albeit smaller than expected. The country fell 8.8 percent in August from a year earlier, according to data from the Chinese Customs Administration, while imports fell 7.3 percent. Economists had expected exports to fall 9.2 percent to 10 percent and imports to fall 9.0 percent to 9.7 percent. Exports have fallen annually every month since April as global demand for Chinese goods has weakened. China’s economic recovery from the pandemic has slowed in the past few months, weighed down by a housing slump and lackluster consumer spending. China’s trade surplus in August was $68.36 billion, below expectations of $73.8 billion. In July, the trade surplus was $80.6 billion.