Monthly trade in China drops again

7 Days in Dubai - - BUSINESS -

China’s ex­ports and im­ports con­tracted again in May in a sign of weak global and do­mes­tic de­mand. Ex­ports fell 4.1 per cent from a year ear­lier to $181.1 bil­lion com­pared with April’s 1.8 per cent de­cline, cus­toms data showed yes­ter­day. Im­ports shrank 0.4 per cent to $131.1 bil­lion, an im­prove­ment over the pre­vi­ous month’s 10.9 per cent fall. China is Dubai’s largest trad­ing part­ner. In 2014, the lat­est fig­ures avail­able, bi­lat­eral trade was val­ued at Dhs174.84 bil­lion. “China’s ex­port growth is likely to re­main sub­dued go­ing for­ward,” said Ju­lian Evans-Pritchard of Cap­i­tal Eco­nomics in a re­port. “While we don’t an­tic­i­pate much more of a slow­down in global growth given that the worst is prob­a­bly over for many emerg­ing mar­kets, we don’t fore­see a sig­nif­i­cant pick-up ei­ther.”

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