China’s exports and imports fell sharply in March, adding to recent indicators pointing to a slowdown in the world’s second-largest economy.
The country’s exports fell by 6.6% in March when compared with the previous year.
Imports dropped by 11.3% in the same month, when compared with the same time last year.
This is the second straight month of falling exports for China. In February, exports dropped by 18.1%.
It is the first time since 2009 that exports have fallen for two months in a row.
The export decline in February was mainly attributed to weaker demand due to the Lunar New Year holiday period, which led to closures of many businesses and factories.
Analysts had been expecting to see an increase in both import and exports for the month of March.
The March trade figures will add to recent concern about the state of the Chinese economy, which has shown signs of weakness amid poor data from the manufacturing and retail sectors.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.