Chinese exports seen to stay positive
Print Edition
EXPORTS are likely to stay in positive territory this year although negative growth cannot be ruled out for a few months, the Ministry of Commerce said yesterday.
China’s exports fell 0.9 percent year on year in the first seven months of the year, with exports in July alone slumping 8.9 percent, compared with a 2.1 percent increase in June. In July 2014, exports had risen by 14.5 percent year on year.
The latest monthly slump was partly caused by a base effect as exports had experienced “exceptionally” fast increases in the same period last year, said Shen Danyang, a ministry spokesman.
“The export structure is improving in terms of products, market exposure and regional layout, and China’s share in the global market is steadily expanding,” Shen said.
“Private enterprises are claiming larger shares of exports. In contrast to the overall slump, exports by private firms in July increased 4.6 percent year on year,” he added.
Private firms accounted for more than a third of the country’s foreign trade volume, he continued.
“Chinese exports are facing even tougher and more complicated situations at home and abroad, as well as a lot of uncertainties,” Shen added.
A worse-than-expected world recovery and weaker external demand will weigh on exports, said Shen.
Exports by the United States and Japan fell by 5.2 percent and 8.1 percent year on year, respectively, in the first six months, according to data from the World Trade Organization.
July was “not a typical month” for exports due to the influence of commodity price fluctuations, Tim Smith, chair of Maersk China and chief representative of Maersk Group North Asia, said on Friday.
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