Market Updates
China Trade Data Highlight 6-Month Weakening Trend
Devan Biswas
10 Jul, 2013
New York City
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China
China’s customs agency reported exports in June declined 3.1% from a year ago to $174.32 and imports fell 0.7% to $147.19 billion.
The monthly decline only highlighted the weakening trend in place in the last six months. Exports in May rose 1% and imports fell 0.3%.
Total foreign trade in first quarter increased 13.5% from a year ago and rose 4.3% in the second quarter and in May rose only 0.3% and in June declined 2%, according to the General Administration of Customs spokesman Zheng Yuesheng.
Zheng added that in the first-half foreign trade increased 8.6% to $2 trillion and exports rose 10.4% to $1.05 trillion and imports increased 6.7% to $944.87.
China has also been cracking down on fake invoicing and rerouting of exports through Hong Kong. The latest data showed the dramatic change in exports data.
China’s exports to Hong Kong increased 92% in March from February, and growth declined to 57% in April from previous month and dropped to 7.7% on a monthly basis in May and fell to 7% in June.
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