China's exports post steepest decline in over 3 years

ANKARA

China's exports in June dropped at the fastest pace in more than three years, according to customs data released on Thursday.

The figure plunged more sharply than market estimates, falling 12.4% year-on-year to $285.3 billion in June, data from the General Administration of Customs showed.

June's overseas shipments followed a 7.5% annual decrease in May.

Mainland China's imports dove 6.8% from a year ago, hitting $214.7 billion in June, much worse than market estimates after a 4.5% decline in May.

The world’s second-largest economy's trade surplus amounted to $70.6 billion for the month, down from $97.4 billion last year.