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China’s foreign trade falls 6% in Q1

by ChemOrbis Editorial Team - content@chemorbis.com
  • 13/04/2015 (11:37)
According to media reports, China’s total foreign trade declined 6% to CNY5.54 trillion ($891 billion) in the first quarter of this year. A report released by China’s General Administration of Customs (GAC) showed that the country’s exports rose 4.9% while imports declined 17.3% in the first three months of this year. In March, China’s foreign trade declined 13.5% on the year to CNY1.76 trillion ($286.6 billion).

China’s trade with the European Union dropped 2.1% while trade with the United States was up 3.2% in the January- March period.

Meanwhile, the Chinese government lowered its annual target for foreign trade growth to approximately 6% this year compared with 2014’s growth target of 7.5%. Analysts cited the sluggish global recovery and a slowdown in the Chinese economy as the main reasons behind weaker foreign trade statistics.
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