China's monthly exports fall 26 per cent year-on-year
Beijing - China's monthly exports fell by 25.7 per cent year-on-year in February with the global financial crisis also causing a 24-per-cent drop in imports, the government said on Wednesday.
Total export value slumped to 64.9 billion dollars in February while imports fell to 60.5 billion dollars, the General Administration of Customs said.
Exports fell for the fourth consecutive month while China's monthly trade surplus dropped to 4.84 billion dollars, less than 15 per cent of the surplus in January, the administration said.
Economists forecast further decline in exports in the first half of the year with the widening impact of the economic crisis on China.
In his speech at last week's opening of the National Pepople's Congress, China's nominal parliament, Premier Wen Jiabao said he faced "arduous and formidable" tasks in reinvigorating the country's faltering economic growth this year.
"While stressing the importance of domestic demand, we must not slacken efforts to promote exports," Wen said.
"In the face of the serious situation of a sharp decline in external demand and growing international trade protectionism, we will increase our support for imports and exports," he said. (dpa)