China exports down 21.4pc
Chinese exports dropped 21.4 percent year on year in June, customs figures showed Friday, narrowing from May's fall with analysts saying it was too early to predict a recovery for the ailing sector.
The latest plunge was the eighth straight monthly decline, but a less steep tumble than the 26.4 percent year on year fall the previous month.
The latest drop in exports, to 95.4 billion dollars, underlines how the country's crucial manufacturing sector has been hit by a fall in demand from the United States and Europe during the global economic crisis.
Imports tumbled 13.2 percent year-on-year in June to 87.2 billions dollars, the customs data showed.
For the first six months of the year, the trade surplus was 96.9 billion dollars, down 1.3 percent compared to the same period in 2008.
For June alone the trade-surplus was 8.2 billion dollars, the official data showed.
"I don't think we are seeing any signs of significant recovery in the export sector this year," said Stephen Green, an economist at Standard Chartered, speaking in Beijing.
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