Over 1 million pilgrims benefit from golf cart service at Grand Mosque during Ramadan    Visitors welcomed with Eid initiative at Thee Ain Heritage Village in Al-Baha    Tebuk emir reviews rain response in Tayma    Saudi Arabia considers rent cap as part of major real estate reforms    Messi's bodyguard banned from touchline at Inter Miami games    Screen time in bed linked to insomnia, study finds    Le Pen vows to appeal political ban, calls verdict a 'denial of democracy'    Death toll from Myanmar earthquake rises to 2,719 as rescue efforts continue    Russia, Ukraine trade blame over new energy strikes    Putin orders Russia's largest military call-up in over a decade    Albania hosts MWL chief for Eid sermon at largest mosque in the Balkans    Haramain High-Speed Railway transports over 1.2 million passengers during Ramadan    Saudi Transport Authority says passengers can ride for free if taxi meters are off    Ministry of Education forms 425 community partnerships with SR653 million impact    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Saudi creatives shine at Jeddah's Fawanees Nights with art, fashion, and storytelling    T1 CEO confirms Gumayusi's return for LCK Spring after lineup shakeup    100 Thieves claim Marvel Rivals Invitational NA crown as 2025 scene heats up    Bollywood actress vindicated over boyfriend's death after media hounding    Saudi Arabia hold Japan to goalless draw in Saitama to stay in World Cup hunt    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    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.