China posts trade deficit first time in six years
China, the world fastest growing economy has posted a trade deficit of $7.24 billion in March, first time in six years.world Updated: Apr 11, 2010 00:08 IST
China, the world fastest growing economy has posted a trade deficit of $7.24 billion in March, first time in six years.
China exported $112.11 billion worth of goods and services in March, up 24.3 per cent year-on-year, while imports surged 66 per cent to $119.35 billion over the year ago period, according to a report released by the General Administration of Customs.
Though the trade deficit may be a concern for China, as much of its growth over the past decade was basically export driven, it may come handy for it to defend its policy and not allow its currency — Yuan — to appreciate as being vociferously demanded by the US.
From India’s point of view, first two months of this year registered a brisk growth.
India-China bilateral trade which posted a dip last year, showed 55 per cent increase in the first two months compared to the previous year.