BEIJING: China’s export in 2015 was 14.14 trillion yuan ($2.15 trillion), down 1.8 percent from the end of 2014, the first drop since 2010, according to the General Administration of Customs.
The total import and export volume stood at 24.59 trillion yuan in 2015, down 7 percent from the same period in 2014.
Import fell by 13.2 percent to 10.45 trillion yuan.
Trade surplus expanded by 56.7 percent from the end of 2014 to 3.96 trillion yuan.
In December alone, foreign trade surplus rose 24.7 percent to 382 billion yuan, the General Administration of Customs announced on Wednesday. Exports increased 2.3 percent to 1.43 trillion yuan and imports fell 4 percent to 1.05 trillion yuan in that month.
Huang Songping, spokesman of the General Administration of Customs, said Chinese trade went through a difficult and complicated year in 2015.
“The double decrease in import and export is due to the economic slowdown throughout the world,” said Huang Songping, spokesman of the General Administration of Customs.
The import slump was largely caused by the price drop of commodities and also the weakening of demands. The department will pay close attention to the fluctuation of currencies, Huang added.
According to Huang, the 2008 financial crisis has hurt the growth momentum of the global economy. The shrinking global demand and the dropping prices of bulk commodities have contributed to the decrease in China’s international trade.
“China still faces challenges in terms of trade. Its exports will face a tremendous pressure in the first quarter of this year,” said Huang.
China’s trade volume in 2016 will remain at the same level as last year, he said. China will remain the number one in bilateral trade. The new trading channels, such as e-commerce, will grow in 2016.
