AFP, Beijing :
China’s exports fell unexpectedly in April as imports posted their sixth straight monthly decrease, official data showed Friday, with analysts calling for more stimulus to bolster the world’s second-largest economy.
The country’s exports dropped 6.4 percent year-on-year in April to $176.3 billion, the customs authority said-well below the median forecast of a 0.9 percent rise in a Bloomberg News poll of economists.
The fall was accompanied by a 16.2 percent drop in imports to $142.2 billion, the sixth monthly decline in a row, suggesting sustained weakness in domestic demand.
The export and import figures for April showed a trade surplus of $34.1 billion, Customs said, compared with $18.5 billion a year ago.
Analysts said the disappointing figures reflected persistent frailty in the Chinese economy and provided more evidence that further policy loosening is needed.
“The trade data indicate that current growth momentum remains soft, calling for more monetary policy easing,” Nomura economist Zhao Yang said in a note.
China’s gross domestic product (GDP) expanded by 7.4 percent in 2014, the lowest rate in nearly 25 years.
Growth slowed further to 7.0 percent in the January-March period, the worst quarterly result in six years and down from 7.3 percent in the final three months of 2014.
More recent data showed the downturn may have extended into the second quarter.
British bank HSBC’s purchasing managers’ index, which tracks activity in China’s factories and workshops, recorded its worst contraction in a year in April as subdued domestic demand continued to weigh on growth, it said this week.
Chinese leaders have said they are ready to accept slower but more sustainable expansion, as they try to transform an investment-driven growth model to one in which consumers take centre stage.
China’s exports fell unexpectedly in April as imports posted their sixth straight monthly decrease, official data showed Friday, with analysts calling for more stimulus to bolster the world’s second-largest economy.
The country’s exports dropped 6.4 percent year-on-year in April to $176.3 billion, the customs authority said-well below the median forecast of a 0.9 percent rise in a Bloomberg News poll of economists.
The fall was accompanied by a 16.2 percent drop in imports to $142.2 billion, the sixth monthly decline in a row, suggesting sustained weakness in domestic demand.
The export and import figures for April showed a trade surplus of $34.1 billion, Customs said, compared with $18.5 billion a year ago.
Analysts said the disappointing figures reflected persistent frailty in the Chinese economy and provided more evidence that further policy loosening is needed.
“The trade data indicate that current growth momentum remains soft, calling for more monetary policy easing,” Nomura economist Zhao Yang said in a note.
China’s gross domestic product (GDP) expanded by 7.4 percent in 2014, the lowest rate in nearly 25 years.
Growth slowed further to 7.0 percent in the January-March period, the worst quarterly result in six years and down from 7.3 percent in the final three months of 2014.
More recent data showed the downturn may have extended into the second quarter.
British bank HSBC’s purchasing managers’ index, which tracks activity in China’s factories and workshops, recorded its worst contraction in a year in April as subdued domestic demand continued to weigh on growth, it said this week.
Chinese leaders have said they are ready to accept slower but more sustainable expansion, as they try to transform an investment-driven growth model to one in which consumers take centre stage.
