China's exports declined 0.5 percent year on year to reach $149.94 billion in January, while imports dropped 15.3 percent to $122.66 billion, according to data from the General Administration of Customs (GAC). The trade surplus stood at $27.28 billion (see page 36).
The drop was significantly caused by the earlier-than-usual Chinese Lunar New Year holiday (January 22-28), which cut four workdays off the month compared with January 2011. |