China's exports and imports fall in January

China's exports fall in January, the first decline in more than two years, raising fresh concerns about the impact of a global slowdown on its economy.

10 February 2012, 12:00am

1 min read

The manufacturing and export sectors are key drivers of growth in China.

Chinese exports dipped 0.5% from a year earlier hurt by sluggish demand and factories being shut during the Lunar New Year.

Imports fell by 15.3%, resulting in a trade surplus of $27.3 billion which was a six-month high.

The fall in imports comes as China has been trying to boost domestic demand in an attempt to offset slowing exports.

Analysts said while the closure of establishments during the Chinese New Year affected the numbers, the decline could not be attributed to the festival alone.

They said that the bigger-than-expected drop, especially in imports, was worrying as it gave an indication of slowing growth.

Despite these numbers, analysts said the dip was likely to be short-lived and imports may start to rise in the coming months.