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China’s exports extend losses, fall 20.6% on year in Feb

by ChemOrbis Editorial Team - content@chemorbis.com
  • 08/03/2016 (13:44)
According to media reports, China’s yuan denominated exports slumped 20.6% to 821.8 billion yuan ($126.3 billion) in February, falling at a steeper pace compared with January’s drop of 6.6% from a year earlier. The latest data showed that lackluster global demand and ongoing weakness in the manufacturing sector are still weighing down the country’s trading activities.

Imports also tumbled 8% on the year to 613.3 billion yuan ($94.1 billion) in February following a decrease of 14.4% in January. Accordingly, the country’s monthly trade surplus plunged 43.3% on the year to 209.5 billion yuan ($32.1 billion).

The data showed that China’s trade with the European Union fell 9.7% year over year in the first two months of this year while trade with the US and ASEAN countries fell 12.2% and 14.9%, respectively.

On dollar terms, China’s exports dipped 25.4% on the year in February while imports dropped 13.8% following a decrease of 18.8% in the previous month.
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