BEIJING—China’s trade weakened in August as high energy prices, inflation, and anti-virus measures weighed on global and Chinese consumer demand, while imports of Russian oil and gas surged.
Exports rose 7 percent over a year ago to $314.9 billion, decelerating from July’s 18 percent expansion, customs data showed Wednesday. Imports contracted by 0.2 percent to $235.5 billion, compared with the previous month’s already weak 2.3 percent growth.
Demand for Chinese exports has softened as Western economies cool and the Federal Reserve and central banks in Europe and Asia raise interest rates to contain surging inflation. At home, repeated closures of Chinese cities to contain virus outbreaks has weighed on consumers’ willingness to spend….