China's 2011 trade surplus shrinks as demand weakens
Wednesday, 11 January 2012
BEIJING, Jan 10 (AFP): China's trade surplus shrank in 2011 as import and export growth slowed sharply, official data showed Tuesday, after domestic tightening measures and global economic turmoil hit consumption.
The figures add to mounting evidence the economy is slowing and will ratchet up pressure on Beijing to further loosen policies to prevent the world's second-largest economy from suffering a painful hard landing.
The 2011 trade surplus-flagged by Commerce Minister Chen Deming last week-narrowed to $155.14 billion from $181.51 billion in 2010, the customs agency said in a statement, reflecting the turmoil in Europe and the United States.
Exports rose 20.3 per cent to $1.899 trillion in 2011, compared with an increase of 31.3 per cent in the previous year, while imports climbed 24.9 per cent to $1.743 trillion, much slower than the 38.8 per cent growth in 2010.
The figures add to mounting evidence the economy is slowing and will ratchet up pressure on Beijing to further loosen policies to prevent the world's second-largest economy from suffering a painful hard landing.
The 2011 trade surplus-flagged by Commerce Minister Chen Deming last week-narrowed to $155.14 billion from $181.51 billion in 2010, the customs agency said in a statement, reflecting the turmoil in Europe and the United States.
Exports rose 20.3 per cent to $1.899 trillion in 2011, compared with an increase of 31.3 per cent in the previous year, while imports climbed 24.9 per cent to $1.743 trillion, much slower than the 38.8 per cent growth in 2010.