July 10, 2009

Chinese exports, imports fell in June

China's General Administration of Customs said Friday that exports and imports have both fallen dramatically in the past 12 months.

Exports in June reached $95.41 billion, following an export total of $88.8 billion in May. But, exports are off 21.4 percent from June of 2008, the government reported.

Imports have dropped 13.2 percent over the past year to $87.16 billion.

The global recession has slowed demand for Chinese goods. In October, Chinese exports reached $128 billion, Xinhua reported.

The basic idea I can tell is from January to June the trade data fell year-on-year, but in June the decline narrowed, said Chen Jian, a deputy commerce minister.

In May, exports fell a record 25.2 percent over a 12-month period.

Foreign investment in China has also dropped, falling for a record eight consecutive months in May, the newspaper said.