China’s export growth slowed to a three-year low last year as the effects of trade tensions with the US and a slowing global economy took their toll.
Exports grew 0.5 per cent in dollar terms in 2019, the lowest reading since 2016, when they contracted, and down from the 9.9 per cent growth a year earlier, according to China’s general administration of customs. Imports fell 2.8 per cent last year.
In renminbi terms, trade with the US fell 10.7 per cent to Rmb3.73tn ($541bn). But Zou Zhiwu, vice-minister at China’s customs administration, said bilateral trade between the world’s two largest economies began to improve at the end of the year.
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