China Imports Down, Oil Import Volume Falls 4.6%

China Daily: China's foreign trade drops almost 10 percent
China's foreign trade dropped 9.8 percent on a year-on-year basis to 1.88 trillion yuan ($288 billion) in January, while exports dropped 6.6 percent from the same month last year and imports declined 14.4 percent, customs data showed on Monday.

Monthly foreign trade surplus widened to 406.2 billion yuan in January from 382 billion yuan a month earlier, according to the General Administration of Customs data.

A year ago in January, crude oil import volume fell 0.6% yoy, this year they fell 4.6% yoy. Natural gas imports increased 22.3% yoy, fertilizer rose 33% yoy by volume.

Exports to the U.S. fell 5%, imports fell 22.6%. India, Hong Kong and the Philippines were the only three major trading partners with an increase in both imports and exports.

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