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China’s exports fall 6.6% on year in January

by ChemOrbis Editorial Team - content@chemorbis.com
  • 15/02/2016 (10:59)
According to media reports, China’s yuan denominated exports declined 6.6% to 1.14 trillion yuan ($175.5 billion) in January compared with the same month of 2015 while imports also tumbled 14.4% on the year to 738 billion yuan ($113.6million) in January following a decrease of 4% in December. Accordingly, the country’s monthly trade surplus rose 12.2% to 406 billion yuan ($62.4 million) compared to a 24.7% increase in December. Bloomberg economists had expected to see a 1.8% drop in exports in dollar terms and a 3.6% decline in imports with the same terms in January.

The data shows that lackluster global demand and ongoing weakness in the manufacturing sector are still weighing down the country’s trading activities while higher labor costs and the increasing competitiveness among neighboring economies are putting additional pressure on the Chinese economy.
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