Shanghai Port, the world's busiest container port, saw its container volume fall 7.1 percent from a year earlier, its second consecutive monthly decline, signalling a slowdown in China's trade activities. Container throughput reached 2.61 million twenty-foot equivalent units (TEUs), down from 2.84 million in July, data issued by the port's operator showed on Friday.
The decline in throughput in August could bode ill for China's trade during the month. Exporters are battling a global economic downturn and imports are subdued by soft demand and destocking of inventories in the machinery and materials sectors. A survey by Reuters showed China's exports grew 3 percent in August from a year earlier, while annual growth in imports cooled to 3.5 percent from July's 4.7 percent. China's economy has slowed for six successive quarters. The trade data due on Monday will be key to gauging future prospects and how much more stimulus is needed.