The Chinese Customs Service reported that trade between China and the United States in January-August 2020 decreased by 3.5% to $344.3 billion compared to the same period in 2019.
China’s Customs Service also pinpointed that the volume of exports between Beijing and Washington shrank by 3.6% to $266 billion in the accounting period. At the same time, the import volume of US goods and services to China did not exceed $78.2 billion which was 2.9% lower than for the same period last year.
In August, trade flows between the two top global economies reached $55.3 billion. Thus, US imports from China amounted to $44.77 billion, while China’s imports from the United States was $10.53 billion. Interestingly, the US-China problems with goods turnover are the result of the long-lasting trade war between the two nations. Last year, trade between the largest economies amounted to $541.22 billion decreasing by 14.6% than in 2018.
