China's exports declined in May for the second straight month; imports also declined moderately as weak global demand continued to drag down the world's second largest economy.

China's xports contracted 4.1 percent in May after falling 1.8 percent in April, the latest data released by the General Administration of Customs on Wednesday revealed. Economic experts have cited weak demand in American and European markets as the main factor behind China's poor export numbers.

Like Us on Facebook

Imports during the same period fell surprisingly by only 0.4 percent, as compared to the sharp drop of 10.9 percent in April. The moderate fall in import is reportedly due to recent rebound across commodity prices. Analysts also credit government stimulus packages for the positive import numbers. The moderate fall in imports by nearly six percent defied the expectations of most experts.        

However, the sharp decline in import had a positive impact on trade surplus. The current trade surplus stands at $49.98 billion, which is wider than April's trade surplus of $45.56 billion.

Economic experts suggest that latest trade figures are indicative of the presence of weak economic sentiments in the Chinese economy. The Chinese government has promised that it will take all necessary measures to revive the growth of its economy.        

However, continued sluggish performances in critical areas like the service and manufacturing sectors have raised doubts over Beijing 's assurances. Last week's Caxin Manufacturing PMI data stood at 49.2 points as compared to 49.4. Experts claim that China's road to economic recovery will be a long one and might take more than a year.

Tagschina, Chinese export, Chinese Economy, Chinese Export and Import