Page last updated at 07:13 GMT, Wednesday, 11 February 2009

China's exports see sharp decline

Shenzhen port, south China, Dec 08
China's exports are falling as world demand slows

China's exports fell more than expected in January, down 17.5% from a year earlier, marking the biggest drop in more than 10 years, figures have shown.

Imports were down 43.1% in the month compared with a year ago, as China's economy continued to be hit by the global economic slowdown.

Analysts say the slowdown could prompt more factory closures and job losses.

China's global trade surplus widened to $39.1bn last month, after recording a surplus of $39bn in December.

Jobs pressure

"The numbers are terrible. The environment is awful," said Ken Peng, an economist at Citigroup.

"The pressure on unemployment will be huge," he added.

Some analysts argue that this worsening trend will continue, as the world economy contracts.

Last month, China's crude oil imports fell to their lowest level for 15 months - down 8% year-on-year.

The country shipped in 12.82 million tonnes of crude oil, nearly 11% lower than in December.

Print Sponsor

Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit


Sign in

BBC navigation

Copyright © 2019 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific