AFP, Beijing :
China’s imports plummeted in March as exports rose sharply, official data showed Friday, adding to worries about slowing growth in the world’s number two economy amid a US trade war.
Total imports sank 7.6 percent on-year last month while exports rose 14.2 percent, the data from China’s customs administration showed.
Economists polled by Bloomberg had expected a slight 0.2 percent rise in imports with exports projected to grow 6.5 percent.
Beijing has taken measures to jumpstart its cooling economy with massive tax cuts and fee reductions but the falling imports point to tepid demand at home.
Last month officials lowered China’s annual growth target to 6.0 to 6.5 percent for the year, down from 6.6 percent last year.
Washington and Beijing have slapped tariffs on more than $360 billion in two-way goods trade, weighing on the manufacturing sectors in both countries.
Soybeans, traditionally one of the largest imports from the US, fell by 14.4 percent during the first quarter from last year.
However, analysts caution it is difficult to compare trends in China’s data at the start of the year due to the Chinese New Year holiday, which came in early February this year and can affect business activity.
Recent manufacturing data showed export orders shrank for the 10th straight month in March amid slowing global growth.
China’s imports plummeted in March as exports rose sharply, official data showed Friday, adding to worries about slowing growth in the world’s number two economy amid a US trade war.
Total imports sank 7.6 percent on-year last month while exports rose 14.2 percent, the data from China’s customs administration showed.
Economists polled by Bloomberg had expected a slight 0.2 percent rise in imports with exports projected to grow 6.5 percent.
Beijing has taken measures to jumpstart its cooling economy with massive tax cuts and fee reductions but the falling imports point to tepid demand at home.
Last month officials lowered China’s annual growth target to 6.0 to 6.5 percent for the year, down from 6.6 percent last year.
Washington and Beijing have slapped tariffs on more than $360 billion in two-way goods trade, weighing on the manufacturing sectors in both countries.
Soybeans, traditionally one of the largest imports from the US, fell by 14.4 percent during the first quarter from last year.
However, analysts caution it is difficult to compare trends in China’s data at the start of the year due to the Chinese New Year holiday, which came in early February this year and can affect business activity.
Recent manufacturing data showed export orders shrank for the 10th straight month in March amid slowing global growth.
