China exports, imports slump

Chinese trade slumped in January, authorities said today, as both exports and imports tumbled with feeble domestic and global demand dragging on the world’s second-largest economy. Exports dropped 11.2 per cent year-on-year to USD 177.5 billion in dollar terms, Customs said, while imports plummeted 18.8 per cent to USD 114.2 billion -- giving the Asian giant a record monthly trade surplus of USD 63.3 billion. Tremors in overseas markets and weakness in partner economies have weighed on China.