China's exports dropped 2.8 per cent year-on-year, and imports fell 21.3 per cent, in December, new customs figures show.
Exports stood at USD111.2 bn and imports at USD72.2 bn, down from November's figures of USD114.9 bn and 74.9 bn, respectively. It is the first time in a decade that exports have fallen for two months in a row, state media reports. In November, the value of goods leaving China dropped by 2.2 per cent, while imports shrunk 17.9 per cent.
China is likely to see "almost zero growth" in exports in the first quarter of this year, and perhaps "a fall of 6 per cent" in the second quarter, state media quotes Su Chang, Analyst with China Economic Business Monitor.
Xinhua writes that trade experts believe China's export growth will be threatened by Vietnam, India and Pakistan because of lower production costs in those countries.
Source : BizChinaUpdate