China’s General Administration of Customs reported shrinkage in exports and imports of the country in January. On an annual basis, China's exports fell by 11.2% in January, while imports decreased by 18.8%.
The data came out to be a lot below experts’ expectations and the December 2015 figures. Analysts had anticipated a drop of 1.9% in Chinese exports and a decline of 0.8% in imports in January.
According to the Administration, the volume of China's exports fell by 1.4% in December 2015. In January the indicator amounted to $177.5 billion, while imports totaled to $114.1 billion. In December it fell by 7.6%.
China's foreign trade stood at the level of $291.6 billion in January. It is 14.3% smaller balance than in the same period of last year.
Experts say usually disappointing statistics for January and February is caused by the celebration of New Year on the lunar calendar. Many companies in the Asian region stop working weeks before the holidays.
