China's exports went down 6.6 percent to $170.11 billion in March, customs data showed on April 10.
Imports went down 11.3 percent to $162.41 billion and total foreign trade volume declined 9 percent to $332.52 billion, the General Administration of Customs (GAC) said.
Trade balance returned to a surplus of $7.71 billion in March after a surprise deficit of $22.98 billion in the previous month, the GAC said.
Total trade volume of the first quarter stood at $965.88 billion, down 1 percent year on year. Of the total, exports declined 3.4 percent to $491.31 billion while imports grew 1.6 percent to reach $474.57 billion in the first quarter.
"Judging from data, China's foreign trade has encountered some difficulties. But we should never overestimate those difficulties," said Zheng Yuesheng, spokesman of the GAC.
"The decline in foreign trade data will be temporary and short-term. China's foreign trade will regain growth from May this year and then enter a mild growth period."
China's foreign trade still has several advantages, including global economic recovery, China's efforts in comprehensively deepening reforms and Chinese companies' surging overseas investment, Zheng said.
"It's likely that China will realize its 7.5-percent foreign trade growth target," he predicted. |