Poor Chinese Trade Figures Renew Fears Over Shaky Economy

Imports into China fell far more than expected in August, adding to concerns over the effect of the slowdown in the world’s second largest economy.

Imports fell by 13.8 percent compared to a year earlier – much more than the drop of 8.2 percent economists had been anticipating, and the decline in July of 8.1 percent.

The sharp decline in imports was particularly noticeable from Australia which saw a fall of 29.7 percent, and the European Union where the fall was 21.7 percent.

The drop reflects both lower world commodity prices and persistently sluggish demand at home.

Imports of key commodities such as iron ore, crude oil and soybeans all fell.

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Source: Euronews