China's exports for the January-February period fell, pointing to continued weakness in foreign demand and backing government concerns that a global slowdown will hamper the country's recovery from pandemic-era damage.
A 26.5% plunge in China's imports of semiconductors indicated a shrunken market for the consumer electronics exports that such parts are used to make.
Commerce Minister Wang Wentao on Thursday cautioned that downward pressure on China's imports and exports would increase significantly this year, because of the risk of a global recession and weakening external demand. China's imports of coal and soybeans jumped from a year before, the customs bureau data showed, while arrivals of crude oil were down 1.3%. Imports of natural gas fell by 9.4%.
The customs agency publishes combined January and February trade data to smooth out distortions caused by the shifting timing of the Lunar New Year, which this year fell in January.
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