BEIJING: China’s imports have weakened as the economy faces relatively large downward pressure, while exporters have to deal with obstacles including higher labor costs and a stronger yuan, a General Administration of Customs spokesman said Monday.
Exports as calculated in yuan fell 14.6 percent in March from a year ago, government data showed on Monday. The impact of the Lunar New Year in February and weak global demand contributed to the drop, Huang Songping said. Imports fell 12.3 percent from a year ago.
China had a trade surplus of 18.2 billion yuan (US$2.93 billion) last month, according to the yuan figures released on Monday. China will need to work hard to meet its 2015 foreign trade target, Huang added.
