Commerce ministry expects trade to stabilize

By Wang Yanlin | May 5, 2014, Monday |

Online Edition

China's recent trade slowdown was mainly due to a higher comparative base last year and may stabilize with the base effects fading and demand recovering at both home and abroad, the Ministry of Commerce said today.

"China's overall trade is likely to gain momentum again after May when the effect of a high base fades," according to a ministry statement. "China's economy has fared relatively well to start this year, which creates a favorable environment for trade to grow steadily in the future."

In a quarterly report on trade conditions, the ministry said China would continue to face difficulties this year.

"But the external conditions won't change much and trade is likely to see stable growth this year," the statement said.

In the first quarter, China's trade edged down 1 percent from a year earlier to US$965.8 billion, with exports dropping 3.4 percent and imports rising 1.6 percent.

In March, exports declined 6.6 percent and imports contracted 11.3 percent. Both figures were worse than expected by economists.

Last year, China overtook the United States to become the world's largest commodity trader.

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Commerce ministry expects trade to stabilize

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