Crown Prince, Kuwaiti prime minister discuss strengthening bilateral ties in NEOM    911 emergency centers handle over 2.7 million calls in July    Civil Affairs proposes amendment to death reporting rules for resident expatriates    Commemorative stamp issued honoring Prince Khalid Al-Faisal    Saudi central bank submits new banking draft law to legislative authorities    Saudi report shows 97.7% of businesses have internet access, 57.7% use social media    Mohamed Yousuf Naghi Motors and alfanar partner to deliver seamless home EV charging solutions across Saudi Arabia Powering the future of mobility    Ministry launches Non-Profit Precious Metals and Gemstones Association to boost industry    Netanyahu asks Red Cross to help hostages in Gaza, as families warn against an 'expanding war'    Poland extends border controls with Germany, Lithuania until October 4 over migration concerns    New Zealand woman arrested after two-year-old found in luggage    Al Qadsiah sign Saudi starlet Musab Al Juwayr from Al Hilal    Salm Al-Dawsari returns to Al Hilal training after injury layoff    Pakistan monsoon death toll rises to 299, including 140 children    Saudi defender Saud Abdulhamid joins RC Lens on loan from AS Roma    Riyadh Comedy Festival tickets now on sale for world's biggest stand-up event    Sotheby's returns Buddha jewels to India after uproar    Riyadh Film Music Festival returns with live orchestral performances of iconic movie scores    Nissan Formula E Team celebrates a landmark season 11 with proud Saudi sponsor Electromin    Saudi Arabia approves first Alzheimer's treatment with lecanemab for early-stage patients    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Pakistani star's Bollywood return excites fans and riles far right    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



China's trade decline eases in March
Published in Saudi Press Agency on 10 - 04 - 2009


The plunge in Chinese exports that has
wiped out millions of jobs eased in March amid signs the
collapse in global demand might be bottoming out, according to AP.
Exports fell 17 percent in March from a year earlier, the
fifth straight monthly decline but less severe than
February's 25.7 plunge, the sharpest in a decade, the
customs agency reported Friday. It said trade «showed
clear signs of improvement.»
Imports fell by 25.7 percent, widening the Chinese trade
surplus to $18.6 billion from February's $4.8 billion gap.
The plunge in demand for Chinese goods has thrown at least
20 million people out of work as factories closed,
prompting Beijing to launch a huge stimulus plan to ease
reliance on exports by pumping up domestic consumption.
A survey of Chinese companies released last week showed
manufacturing expanding slightly in March following a
months-long contraction. It also showed the drop in export
orders was easing.
Beijing has taken steps to hold down the price of exports
by cutting taxes on exporters and stopping the rise of
China's tightly controlled currency, the yuan, against the
U.S. dollar. Economists say both steps could strain
relations with trading partners if China is seen to be
competing unfairly.
The continued weakness in imports will hurt other Asian
economies, which supply Chinese factories with raw
materials and industrial components. But analysts say
imports should pick up as factories run down stockpiles of
materials and need to buy more.
Imports are expected to get a boost from the 4 trillion
yuan ($586 billion) stimulus package, which aims to pump
money into the economy through higher spending on
construction of airports and other public works. That is
expected to drive demand for materials such as imported
iron ore to produce steel.
«Export activity showed signs of stabilization,
reflecting modest improvement in global demand,» Jing
Ulrich, chairwoman of China equities for J.P. Morgan, said
in a report. «There are some initial signs of recovery in
China's raw materials demand, driven by government
stockpiling and record imports of iron ore.»
China's global exports in March totaled $90.3 billion,
while imports were $71.7 billion, the customs agency
reported.
China posted a $10.2 billion trade surplus with the United
States as exports to the U.S. market fell 12.6 percent to
$16.4 billion, while imports of American goods dropped 12.7
percent to $6.2 billion.
The country's trade surplus with the 27-nation European
Union was $8 billion as exports plunged 20.2 percent to
$17.2 billion, while imports of European goods declined
17.4 percent to $9.2 billion.


Clic here to read the story from its source.