China Sept exports fall 5.6% in yuan terms

Steel pipes are seen at a port to be loaded onto ships for export to various countries in Lianyungang, eastern China’s Jiangsu province on December 1, 2015. Chinese exports fell 5.6 percent in September as sluggish demand weighed on the world’s second-largest economy. AFP FILE

BEIJING, China — China’s exports fell 5.6 percent year-on-year in yuan terms in September, figures showed Thursday, as sluggish demand weighed on the world’s second-largest economy.

Customs said exports fell to 1.22 trillion yuan (around $180 billion) in the month.

Imports rose 2.2 percent year-on-year to 944.79 billion yuan, with the monthly trade surplus plummeting 25.0 percent to 278.35 billion yuan.

“There remain obvious obstacles facing China’s foreign trade development,” Customs said in a statement.

China is crucial to the global economy and its performance affects partners from Australia to Zambia, which have been battered by its slowing growth. CBB