China's Jan exports drop 0.5%
Updated: 2012-02-10 13:57
BEIJING - China's exports dropped 0.5 percent year-on-year in January, the first decline in two years as a week-long holiday distorted trade figures, official data showed Friday.
Exports reached $149.94 billion in January, while imports slumped 15.3 percent year-on-year to $122.66 billion in January, the General Administration of Customs (GAC) said in a statement.
The country's foreign trade fell 7.8 percent year-on-year to $272.6 billion in January, it said.
The figures were affected by an earlier Chinese Lunar New Year holiday, which fell in January this year and cut four workdays off the month compared with January of 2011, according to the statement.
After seasonal adjustments, exports rose 10.3 percent year-on-year in January, the GAC said.
It was a faster growth compared with 2.4 percent in February 2011, when last year's New Year holiday week arrived.
Foreign trade and imports climbed 6.2 percent and 1.5 percent year-on-year respectively in January after seasonal adjustments.
The GAC said China's trade surplus reached $27.28 billion in January, up from $16.52 billion in December 2011.
China's trade with the European Union, the country's top trade partner, dipped 7.1 percent year-on-year to $42.68 billion in January.
Trade with the United States, the country's No 2 trade partner, shrank 3.9 percent year-on-year to $35.46 billion.
China's trade with emerging economies bucked the downward trend in January, with its trade with Russia and Brazil rising by 26.8 percent and 5.7 percent year-on-year respectively.