Friday July 10, 10:23 AM
China exports down 21.4% year on year: state media
BEIJING (AFP) - Chinese exports dropped 21.4 percent year on year in June, state media reported Friday, narrowing from May's fall of 26.4 percent.
The latest plunge was the eighth straight monthly decline, underlining how China's crucial export 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, Xinhua reported citing customs figures.
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, Xinhua said.
For June alone the trade-surplus was 8.1 billion dollars, AFP calculated from official data.
Since the export sector is a big employer in China, the government has been forced to come up with solutions to ward off hard times.
It unveiled a 580-billion-dollar fiscal package late last year aimed at lifting the economy mainly through investment in large infrastructure projects.
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