China sees first quarterly trade deficit in six years
April 10th, 2011 - 6:41 pm ICT by IANSBeijing, April 10 (IANS) China saw a trade deficit of $1.2 billion from January to March this year, the first quarterly trade deficit in six years, according to figures released Sunday by the General Administration of Customs (GAC).
In comparison, there was a trade surplus of $13.91 billion in the first quarter of last year, Xinhua reported citing the GAC.
Exports surged 26.5 percent year-on-year to $399.64 billion in the first three months this year, while imports soared 32.6 percent to $400.66 billion from a year earlier.
From January to March, the total value of imports and exports increased 29.5 percent year-on-year to $800.3 billion, said the customs administration, adding that China reported a small trade surplus of $140 million in March, on the basis of a deficit of $7.3 billion in February.
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Tags: beijing, china, customs administration, first quarter, first three months, general administration, imports and exports, quarterly trade, six years, total value, trade deficit, trade surplus, xinhua