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China’s exports and imports fall sharply in April

by ChemOrbis Editorial Team - content@chemorbis.com
  • 08/05/2015 (10:47)
According to data released by China’s General Administration of Customs, the country’s exports unexpectedly declined while imports fell by a larger than expected amount in April. Exports dipped 6.4% compared with the same month of 2014 while imports slumped 16.2% on the year, indicating that domestic demand remains subdued. Economists’ initial estimates called for an increase of 2.4% for exports and a decrease of 12% for imports in April, according to a survey conducted by Reuters.

However, China’s crude oil imports rose 13% on the month to reach 30.29 million tons of crude oil in April (222 million barrels) from 26.81 million tons in the previous month.

The latest data suggests China may experience weaker economic growth for the second quarter of this year and that the country may struggle to meet the government’s full year economic growth target of 7%.
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