China’s exports fell sharply in dollar terms in March, partly on weaker demand from markets such as Europe and lower prices for Chinese goods, despite surging shipments from the world’s second-largest economy.
The value of China’s exports dropped 7.5 per cent in March against a year earlier, compared with a Reuters poll of analysts that forecast a contraction of 2.3 per cent. Import value was down 1.9 per cent, compared with analysts’ expectations of a 1.4 per cent increase.
The fall in the value of exports underlines the challenges facing Beijing as it turns to manufacturing and trade to try to steer the economy out of a deep slump induced by a slowdown in the property sector as well as weak consumer and investor confidence.
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