China’s export growth slows - trade surplus down

Via Bloomberg.com:

Overseas shipments grew 17.6 percent from a year earlier, after gaining 28.1 percent in May, the customs bureau said on its Web site today. That was less than the 22 percent median estimate of 23 economists surveyed by Bloomberg News.
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The trade surplus narrowed 20.6 percent to $21.4 billion from a year earlier, according to the government, the third straight reduction. Imports climbed 31 percent from a year earlier, after a 40 percent increase in May.

Export growth is down from last year’s 25.7 percent increase. The weaker performance “is closely linked to the global economic slowdown, led by the U.S. economy,” Wang Tao, a Beijing-based economist with UBS AG, said in a July 2 report.

Not too much of a surprise really: the U.S. slowdown, Asia-Europe trade lane growth slowing, the appreciation of the yuan, increasing labor and regulatory costs, etc., etc. Weakening China Exports to the U.S. is stretching over into the 3PL/Ocean Consolidator world as well. I have no idea if other importers out there have experienced the same thing, but I can not remember a time in the past 2 years when I have heard so much from China-centric consolidators and 3PLs. I have been getting cold called at least a couple of times a week from providers offering services from China. Even more surprising, I have been called twice in the past month from China directly! I don’t know how or where they got my information but when you are getting cold calls directly from consolidators in China you know they are getting desperate for business.