China exports dropped in January, while imports also fell, adding to economic challenges confronting the world’s biggest trading nation.
Overseas shipments declined 6.6 percent in January in yuan terms from a year earlier, the customs administration said on Monday, compared with a 2.3 percent increase in December. Imports extended a stretch of declines to 15 months, falling 14.4 percent, leaving a trade surplus of 406.2 billion yuan ($62.3 billion).
The decrease suggests the yuan’s depreciation since August has yet to result in a sustained boost to the competitiveness of China’s factories.
Source : Bloomberg