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China exports dip in June
FMCG SUPPLIER NEWS
Fin24/ Sapa - Jul 12th, 08:37
Beijing - China's exports fell 3.1% year-on-year (y/y) in June with imports also declining, the government said on Wednesday, in the latest signs of slowing growth in the world's second-largest economy.
The government recorded exports valued at $174.32bn in June and imports worth $147.19bn, down 0.7% y/y, the General Administration of Customs said.
The fall in monthly exports was the first negative figure since January 2012.
China's total foreign trade grew to almost $2trn in the first six months of this year, up 8.6% y/y, the administration said.
China's annual economic growth slipped from 9.3% in 2011 to 7.8% last year, the slowest expansion since 1999.
The government set targets of 8% for trade growth and 7.5% for growth in gross domestic product this year as it aims to rebalance the world's second-largest economy away from its long reliance on exports and investment in infrastructureFrom Fin24.com
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