China Trade: Surging Export Prices Mask Falling Volumes, But Turning Point Looms As Christmas Orders Dry Up



Ji Siqi | South China Morning Post

China’s exports have continued to defy expectations and warnings of a slowdown amid coronavirus outbreaks, power shortages and rising shipping costs, but data has shown that while export values have increased, volumes of many goods have not.

Murmurings of slower export growth started in June due to evaporating positive comparison-base effects from previous months and the reopening of alternative overseas manufacturing bases, but after a month of softer shipments in July, growth has since gone from strength to strength.

Data released on Sunday showed China’s exports in October again beat expectations, growing by 27.1 per cent from a year earlier.

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