After Brief Recovery in March, China’s Exports Declines Marginally in April
Girish Shetti | | May 08, 2016 07:40 AM EDT |
(Photo : Getty Images) China’s exports and imports declined in the month of April.
China's exports declined marginally in April as weak global demand continues to weigh on the export industry of world's second largest economy.
The General Administration of Customs said on Sunday that China's exports declined by 1.8 percent from a year earlier. April's marginal decline reverses a rise in exports witnessed in March. In March, China's exports surprisingly rose by 11.5 percent, signaling a brief turn for the country's economy.
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Along with exports, imports also declined in the month of April. Last month, China's imports declined by 10.9 percent from a year earlier. April was the 18th consecutive month that China's imports had declined.
China's disappointing export and import numbers come following the release of sluggish PMI (Purchasing Managerial Index) data for the manufacturing and non-manufacturing sectors last month. Although the official data showed that China's PMI had expanded in April for the second straight month, the reduction was only marginal.
The Chinese government says that the economic data from the past two previous months suggest that domestic indicators are improving. However, weak global demand and volatility in the international market continue to pose a challenge to China's economy.
Economists claim that marginal improvement in China's economic data's in April and March has eased off concerns of a hard landing for the country's economy.
Top Chinese officials had always voiced assured that country's economy would not experience hard landing even if the weakness in the global economy persists.
Chinese is currently going through a severe economic crisis. Economist have described the current crisis as the worst in over two decades, with several economic indicators showing continuous decline over last two years.
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