AI Data Insight
China's Q2 import and export freight volume YoY growth rate plummeted to -1.55%, a significant decline compared to 5.74% in the previous period of Q1, reflecting an unexpected cooling of trade activities. Analysis indicates that freight volume dropped sharply starting in late March, primarily affected by the spillover impact of Middle East geopolitical tensions on supply chains and shipping costs. In the short term, export momentum will remain under pressure, but a recovery is expected in the future as global waters gradually open up and demand rebounds.