Economy Mar 09

Exports down by 15.9% in Jan-Feb

Customs data show a trade deficit of $6.1 billion, with imports also down by 2.4%

Imports and exports down 9.6% in Jan-Feb
China's trade has been hit hard by the Covid-19 crisis. File photo: AFP

(ATF) – In the first two months of 2020, China's imports and exports totalled 4.12 trillion yuan, down 9.6% over the same period last year, according to data released by the General Administration of Customs on March 7.

Of this total, exports totalled 2.04 trillion yuan, down 15.9%, while imports totalled 2.08 trillion yuan, down 2.4%.

The trade deficit in the two months was 42.59 billion yuan (US$6.13 billion), compared with a surplus of 293.48 billion yuan in the same period last year.

Huo Jianguo, vice president of the China World Trade Organization Research Association, said exports were hit hard in February and may weaken on this basis as the resumption of work and production accelerates in March.

And the monthly data for March would probably still be down from a year earlier.

If the epidemic among China's major trading partners rises or is out of control in April and May, it would have a greater impact on exports, Huo said.