|China Sees Sudden Fall in June Exports, Imports|
China's exports and imports took surprising tumbles in June, putting pressure on growth of the world's second-largest economy. Exports dropped 3.1 percent year on year last month to 174.32 billion U.S. dollars, while imports went down 0.7 percent from a year earlier to 147.19 billion U.S. dollars. The exports growth rate was far below market expectation of 3.7 percent and imports missed the market estimate of 6 percent. Exports in May went up 1 percent year on year, while imports dipped 0.3 percent. Sluggish exports indicate the economy was under downward pressure, but the figures have also been influenced by the government's fight against inflowing speculative money. Total foreign trade in June shrank 2 percent year on year to 321.51 billion U.S. dollars.
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Published on our website on July 23, 2013