China’s exports dropped 3.1% in May, which is viewed as more evidence the Chinese economy is slowing. PMI data has recently confirmed the trend as have downward revisions in GDP improvement from both public sources like the IMF and private research firms.

The General Administration of Customs issued a report which said, according to Xinhua:

China’s exports took a surprising tumble in June, putting pressure on the growth of the world’s second-largest economy.

Exports dropped 3.1 percent in June from a year earlier, while imports went down 0.7 percent, the General Administration of Customs (GAC) said on Wednesday.

Exports stood at 174.32 billion U.S. dollars and imports totalled 147.19 billion U.S. dollars, with a trade surplus of 27.13 billion U.S. dollars for the month.

Total foreign trade shrank 2 percent year on year to 321.51 billion U.S. dollars in June.

Foreign trade neared 2 trillion U.S. dollars in the first half of the year, up 8.6 percent year on year, with exports at 1.05 trillion U.S. dollars, up 10.4 percent, and imports at 944.87 billion U.S. dollars, up 6.7 percent.

China’s foreign trade growth rate has been slowing down in the first half of the year, as it grew 13.5 percent in the first quarter year on year and 4.3 percent in the second quarter, but just 0.3 percent in May and 2 percent in June, said GAC spokesman Zheng Yuesheng.

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