China's exports fall 0.5% in January; imports down 15.3%

10 February 2012 07:41  [Source: ICIS news]

SINGAPORE (ICIS)--China’s foreign trade decreased by 7.8% year on year to $272.6bn (€204.5bn) in January, while its trade surplus widened to $27.28bn from $16.52bn in December 2011, official data showed on Friday.

The country’s exports fell by 0.5% year on year to $149.94bn in January amid weak global demand and the Lunar New Year holiday, suggesting the first decline in two years, data from the China Customs showed.

In addition, the country’s imports in January slumped by 15.3% to $122.66bn, the data showed.

Analysts said the decline was sharper than expected, indicating that China’s economy has been affected by the slowing global economic situation.

The country’s crude oil imports in January increased by 7.4% year on year to 23.4m tonnes, the data showed.

The country imported 1.6m tonnes of primary plastics in January, suggesting a 26.8% year on year decrease from the same period a year earlier.

Its imports of acrylonitrile-butadiene-styrene (ABS) resins dropped by 35.1% year on year to 111,456 tonnes, while its imports of polyester chips decreased by 3.6% to 14,701 tonnes in January, the data showed.

China’s imports of natural rubber (NR) dropped by 8.1% year on year to 140,000 tonnes, while imports of synthetic rubber decreased by 27.8% to 100,758 tonnes in January.

In January, China exported 684,418 tonnes of plastic products, a decrease of 3.6% year on year, the data showed.

($1 = €0.75)

By: Adele Zhu

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