Chinese exports fall for the second month in a row

Posted on 10 Apr 2014 by Tim Brown

Chinese exports dropped for the second consecutive month in March, while import growth also fell sharply.

The Customs Administration said earlier today that the country’s exports fell 6.6% in March from a year earlier, following an 18.1% slide in February.

It is the first time that Chinese exports have fallen for two months in a row since 2009.

According to Reuters, imports fell 11.3%, leaving the country with a trade surplus of $7.7bn (£4.5bn) for the month. But this marked a turnaround from a deficit of $23bn in February.

First-quarter exports fell 3.4% from a year earlier, while imports were up 1.6%, producing a trade surplus of $16.7bn, down 59.7% from a year ago.

Economists, polled by Reuters, expect first-quarter gross domestic product figures due on April 16 to show annual growth slowing to a five-year low of 7.3% from 7.7% in the final quarter of 2013.