comscore China's imports drop sharply in January, exports also down | Honolulu Star-Advertiser
Business | Top News

China’s imports drop sharply in January, exports also down

  • ASSOCIATED PRESS
    In this Dec. 9, 2014 file photo, Chinese government propaganda words which read "Prosperity and Powerful" are displayed on a wall near a construction site in Beijing, China.
[ AD HAS BEEN REMOVED FROM THIS STORY ]

BEIJING » Both China’s imports and exports declined in January, the government said Sunday, in a sign of continued weak demand.

Exports dropped 3.2 percent to 1.23 trillion yuan ($200 billion) in January year-on-year, compared with a 9.7 rise in December, according to the General Administration of Customs.

Imports tumbled 19.7 percent to 860 billion yuan ($140 billion) after a decline of 2.4 percent a month earlier.

The trade surplus — or the amount exports exceed imports — expanded 87.5 percent to 366.9 billion yuan ($60 billion).

China’s trade figures early in the year are often volatile because companies rush to fill orders before shutting down for the Lunar New Year, which falls in January or February.

Chinese demand for imported oil, iron ore, food and other goods has cooled as economic growth slowed.

Comments have been disabled for this story...

Click here to see our full coverage of the coronavirus outbreak. Submit your coronavirus news tip.

Be the first to know
Get web push notifications from Star-Advertiser when the next breaking story happens — it's FREE! You just need a supported web browser.
Subscribe for this feature

Scroll Up