Manufactured goods exported from China fell by 20pc and 17.8pc in ferrous and nonferrous segments, respectively, in the first seven months of 2020, according to data from the country’s customs statistics.
Exports in the first seven months of the year stood at $27bn for Chinese iron and steel machinery and manufactured goods while non-ferrous metal goods accounted for $12.8bn. In July, the same categories were valued at $3.7bn and $1.7bn, respectively.
The Chinese customs did not disclose actual volumes exported during the month but indicated that export values fell by 20pc and 17.8pc, for ferrous and non-ferrous machinery and manufactured goods, respectively.
Iron and steel machinery imported into China in July was valued at $3.96bn while non-ferrous machinery imports were worth $6.78bn.
From January-July 2020, imported ferrous goods accounted for $19.2bn, an increase of 40.3pc over the prior-year period. Non-ferrous goods imported were valued at $33bn, climbing 23pc over the same period under comparison.
For other unspecified metal manufactured exports, the valuation was reported at $9.9bn in July and $54.4bn in the January-July 2020 period. Imports of these products stood at $1.3bn in July and $8.1bn in the first seven months. In this category, exports fell by 3.5pc while imports dipped by 11.5pc in the seven-month period, on an annual basis.