💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

UPDATE 1-China Feb exports, imports plunge - paper, governor

Published 03/06/2009, 03:21 AM
Updated 03/06/2009, 03:24 AM
TTEF
-
TGT
-

(Adds comments by Guangdong governor in paragraphs 2, 6 and 7)

BEIJING, March 6 (Reuters) - China's exports and imports in February both dropped by more than 20 percent, the 21st Century Business Herald reported on Friday, citing an unnamed official.

Huang Huahua, governor of the southern province of Guangdong, also said the province's foreign trade in February had slumped 20 percent following a 31 percent drop in January.

The official quoted by the 21st Century Business Herald calculated that, based on such percentage falls, China's trade surplus last month may have fallen to $7 billion from $39.1 billion in January.

If accurate, those figures would mark an acceleration in the fall in China's exports and the fourth straight monthly decline for both exports and imports.

Exports in January fell 17.5 percent and imports fell 43.1 percent from year-earlier levels.

Huang, speaking at a news conference during the annual session of parliament, did not give a breakdown of his province's exports and imports.

Guangdong, which ships about 30 percent of total Chinese exports, has a target of zero growth in its foreign trade this year, he said. (Reporting by Langi Chiang and Emma Graham-Harrison; Editing by Alan Wheatley)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.