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China's exports unexpectedly fell in April 2015 after March dip
By Michael Hennigan, Finfacts founder and editor
May 8, 2015 - 8:02 AM
|Li Keqiang (2nd L), Chinese premier, visits the Laboratory of Advanced Materials & Electron Microscopy at the Institute of Physics of Chinese Academy of Sciences (CAS) in Beijing, May 7, 2015. Beijing's high-tech business hub has been dubbed China's "Silicon Valley." Photo: Xinhua |
China's exports unexpectedly fell in April 2015 after a dip in March highlighting the weak local economy and the implications for global growth.
Exports declined 6.2% in April from a year earlier in yuan value, after a slide of 14.6% in March, official data showed Friday.
Imports also dipped more than expected, off 16.1% in yuan terms year-on-year, compared with a 12.3% decrease in March.
The General Administration of Customs (GAC) said in Beijing Friday that total foreign trade posted a 7.3% decrease in the first four months, with exports rising 1.8% and imports dropping by 17%.
The trade surplus soared by 85.2% to 210.21bn yuan (US$33.9bn) last month, while expanding 3.4 times to 965.37bn yuan in the January -April period, the GAC said.
China's trade with the European Union, its biggest trade partner, dipped by 4.9% from January to April, while that with the United States, the second largest, rose 2.3%.
Trade with Japan plummeted by 11% during this period.
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