Tags: China | Exports | Imports | Growth

China's Exports, Imports Unexpectedly Fall as Growth Slows

Wednesday, 09 Apr 2014 10:26 PM

China’s exports and imports unexpectedly fell in March as Premier Li Keqiang tries to stabilize an economy headed for its slowest growth since the global financial crisis.

Shipments declined 6.6 percent from a year earlier, the customs administration said in Beijing Thursday, compared with the median estimate for a 4.8 percent increase in a Bloomberg News survey of 47 economists. Imports fell 11.3 percent, leaving a trade surplus of $7.71 billion.

Investors are monitoring prospects for additional stimulus as the government grapples with protecting growth while reining in credit risks and rolling out changes to the structure of the economy. Li is speaking Thursday at the Boao Forum in Hainan province after central bank Governor Zhou Xiaochuan Wednesday reaffirmed the government’s commitment to market-driven changes during a visit to Shanghai’s free-trade zone.

China’s export data have been distorted by inflated numbers in early 2013, when some companies filed fake invoices to disguise capital inflows. According to the official figures, exports fell 18.1 percent in February from a year earlier, the biggest drop since the global financial crisis.

Thursday’s numbers compared with analysts’ median estimates for a 3.9 percent gain in imports and a $1.8 billion trade surplus.

Li last week outlined measures including railway spending and tax relief to support growth as economists estimate that gross domestic product rose 7.3 percent in the first quarter from a year earlier, which would be the slowest pace since 2009. Zhou Wednesday reiterated that markets should play a “decisive” role in the economy.

The government’s target this year is for expansion of about 7.5 percent, matching the International Monetary Fund’s latest estimate for the nation’s growth.

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China's exports and imports unexpectedly fell in March as Premier Li Keqiang tries to stabilize an economy headed for its slowest growth since the global financial crisis.
China, Exports, Imports, Growth
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2014-26-09
Wednesday, 09 Apr 2014 10:26 PM
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