{"id":72685,"date":"2023-08-09T00:00:00","date_gmt":"2023-08-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/08\/09\/chinas-trade-slump-continues-in-july-explosion-in-turkish-port-and-more-on-the-panama-canal\/"},"modified":"2023-08-09T00:00:00","modified_gmt":"2023-08-09T00:00:00","slug":"chinas-trade-slump-continues-in-july-explosion-in-turkish-port-and-more-on-the-panama-canal","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/08\/09\/chinas-trade-slump-continues-in-july-explosion-in-turkish-port-and-more-on-the-panama-canal\/","title":{"rendered":"China\u2019s trade slump continues in July + Explosion in Turkish port, and more on the Panama Canal"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> China\u2019s exports tumbled 14.5% y-o-y in July <\/strong>, while imports dropped 12.4% y-o-y, according to data from Beijing\u2019s General Administration of Customs picked up by <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-08-08\/china-s-trade-plunges-more-than-forecast-in-blow-to-recovery?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The drops are attributed to obstacles in international trade, the stagnating Chinese property sector, and declining domestic demand since covid-19 restrictions were lifted. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The news got a lot of ink in the foreign business press: <\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-08-08\/china-s-trade-plunges-more-than-forecast-in-blow-to-recovery?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6318c973-1ff7-44b6-9f4b-177e0706f1e2\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/chinese-exports-fall-at-steepest-pace-since-february-2020-e930246b?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/chinas-july-exports-imports-fall-much-faster-than-expected-2023-08-08\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/08\/08\/china-reports-double-digit-plunge-in-july-exports-and-imports-missing-expectations.html\" style=\"\" rel=\"noopener\">CNBC<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ALSO WORTH KNOWING- <\/strong><\/p>\n<ul>\n<li><strong> Turkey <\/strong>has put in place a<strong> 20% additional charge <\/strong> on some<strong> gold imports <\/strong> to help curb adverse effects on the current account balance. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/turkey-imposes-extra-charge-some-gold-imports-2023-08-08\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/li>\n<li><strong> At least 12 people were wounded and 15k tons of grain were damaged by a <\/strong><strong> port explosion <\/strong>in Northwest Turkey. (<a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2351471\/middle-east\" style=\"\" rel=\"noopener\">Arab News<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/turkey-explosion-derince-port-grain-d10795e552ce5001fcc30cfc8ad04d12\" style=\"\" rel=\"noopener\">AP news<\/a>) <\/li>\n<li><strong> The Panama Canal saw average delays of 15-19 days per vessel <\/strong>during the first week of August on the back of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/faa9c77c-197f-4d1e-b262-0d0a41f3fff4\" style=\"\" rel=\"noopener\">lower water levels<\/a> and protracted labor disputes. (<a target=\"_blank\" href=\"https:\/\/splash247.com\/growing-panama-canal-congestion-a-rates-wildcard\/\" style=\"\" rel=\"noopener\">Splash<\/a>) <\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>China\u2019s exports tumbled 14.5% y-o-y in July , while imports dropped 12.4% y-o-y, according to data from Beijing\u2019s General Administration of Customs picked up by Bloomberg. The drops are attributed to obstacles in international trade, the stagnating Chinese property sector, and declining domestic demand since covid-19 restrictions were lifted. The news got a lot of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":72686,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[149],"tags":[148,248,17,32,231],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-72685","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-china","tag-enterprise-logistics","tag-trade","tag-turkey","wpautop","entry"],"acf":{"mongo_id":"bd4153c5-54ad-4494-a7d1-d5e7d24cd6f9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/398.jpeg","photo_position":"above","homepage_title":"","full_issue_title":"China\u2019s trade slump continues in July + Explosion in Turkish port, and more on the Panama Canal","related_issue":[72663],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.d5ec74bd-e4d1-4f99-9333-c20475a706be.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>China\u2019s trade slump continues in July + Explosion in Turkish port, and more on the Panama Canal - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2023\/08\/09\/chinas-trade-slump-continues-in-july-explosion-in-turkish-port-and-more-on-the-panama-canal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China\u2019s trade slump continues in July + Explosion in Turkish port, and more on the Panama Canal\" \/>\n<meta property=\"og:description\" content=\"China\u2019s exports tumbled 14.5% y-o-y in July , while imports dropped 12.4% y-o-y, according to data from Beijing\u2019s General Administration of Customs picked up by Bloomberg. The drops are attributed to obstacles in international trade, the stagnating Chinese property sector, and declining domestic demand since covid-19 restrictions were lifted. 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