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Chinese Jan exports dip for first time in two years

15
Feb '12
Overall exports from China fell 0.5 percent in January 2012 to US $149.94 billion, a data released by the General Administration of Customs reveals.

This is the first time since December 2009 that exports have registered a negative growth rate.

Experts said that China's export data in January was in line with expectations.

Customs data showed that China's total import and export value in foreign trade reached $272.6 billion, down 7.8 percent year on year, of which imports were $122.66 billion, down 15.3 percent year on year.

In January, export growth continued its declining trend for single-month export's since August last year.

2012 is an election year for the United States, France and other countries. Trade disputes and frictions are likely to rise.

Geopolitical changes may also cause fluctuations in prices of oil, iron ore and other bulk commodities. In addition, exchange rate issue will become more prominent.

2012 global market demand is likely to shrink significantly, looking at the background of uncertainties in international market caused by European debt crisis.

Therefore, China's imports and exports will face pressures from many sides, say experts.

Fibre2fashion News Desk - China


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