Export China collapses due to coronavirus | Financial

Measured in dollars, exports from the world’s second economy shrank by more than 17 percent in that period compared to a year earlier, Chinese customs reported.

As a result of the virus outbreak, factories in China came to a standstill and the transport sector was severely undermined, with damaging effects on trade. The export contraction was stronger than economists expected. Chinese imports fell by 4 percent. In December, China’s exports and imports increased, helped by the provisional trade agreement between Beijing and Washington.

Economists fear that this month there will be further shrinkage of Chinese trade due to the corona virus because the business community is still severely disrupted by the outbreak and the disease is also spreading more and more elsewhere in the world. There are concerns that the disruptions in the supply chain caused by the virus can lead to a weakening world economy or even a global economic recession.

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