China trade extends slide in Feb, exports fall 25.7%
11 March 2009 09:55 [Source: ICIS news]
SHANGHAI(ICIS news)--China’s imports and exports fell for the fourth consecutive month in February due to the global economic slowdown, based on latest data released by China Customs on Wednesday.
Imports tumbled 24.1% to $60.05bn (€47.43bn) year-on-year in February while exports fell 25.7% to $64.9bn, the data showed.
China's trade surplus plummeted 87.6% to $4.85bn in February from January's $39.1bn.
"The global crisis has spread to some emerging countries, curbing China’s exports seriously," Shanghai Securities economist Li Jianfeng said in Mandarin.
In the first two months, exports of garment and clothing accessories, toys and fertilizer recorded year-on-year declines of 11%, 17.1% and 55.4%, respectively.
($1 = €0.79)
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