Exports seen flat while imports to fall sharply
Print Edition
EXPORTS this year are expected to remain generally flat while imports may fall substantially, according to a Ministry of Commerce report released yesterday.
Foreign-trade growth fared well with a smaller drop than the global average and most major economies, it said. For the first three quarters, foreign trade sank 7.9 percent year on year to 17.87 trillion yuan (US$2.82 trillion), with exports down 1.8 percent to 10.24 trillion yuan and imports off 15.1 percent to 7.63 trillion yuan. The trade surplus surged 82.1 percent to 2.61 trillion yuan.
The report said the drop was due to the sluggish global economy, high costs and slumping commodity prices, citing data from the World Trade Organization that showed global exports fell 10.9 percent year on year in the first seven months.
China will grow faster than the global average and hold a bigger share of the world market, the report said.
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