China's June exports fell at their fastest pace in three years as demand continues to weaken amid a slumping global economy.
Exports from China declined 12.4% in June from a year earlier, according to data from China's Customs Bureau.
The June decline follows a 7.5% drop in China’s exports in the previous month of May.
Imports brought into China also slumped during June, contracting by 6.8%, which was worse than the 4% decline forecast by economists. China’s imports fell 4.5% in May of this year.
Exports to the U.S., the top destination for China’s goods, have fallen the most among its major trading partners over the first half of the year.
Exports account for about one-fifth of China’s economy, which has slowed sharply in recent months.
Economists polled by the Reuters News Agency expect full-year economic growth in China of 5.5%. China’s statistics bureau is scheduled to release second quarter gross domestic product (GDP) data on July 17.
