China’s Exports Declined by 7.5 Percent in May as Demand for Goods Wanes

Cargo containers stacked at Yantian port in Shenzhen in China's southern Guangdong province, on June 22, 2021. STR/AFP via Getty Images

Exports from China, the world’s second-largest economy, fell in May for the first time in three months amid waning global demand for Chinese goods.

Data published on June 7 by China’s General Administration of Customs showed that exports, which serve as the main source of foreign exchange for China, fell 7.5 percent year over year, to $283.5 billion, marking the biggest decline since January and reversing April’s unexpectedly strong 8.5 percent growth.