China's exports tumble in May as global demand falters
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BEIJING: China's exports shrank much faster than expected in May and imports fell, albeit at a slower pace, as manufacturers struggled to find demand abroad and domestic consumption remained sluggish.
Exports from the world's second-largest economy fell 7.5 per cent year-on-year in May, the biggest decline since January and swinging from 8.5 per cent growth in April. Imports contracted at a slower pace, dropping 4.5 per cent, a slower pace of decline 7.9per cent than the previous month.
The figures compared with a Reuters poll that showed economists forecast a much smaller 0.4per cent decline in exports and an 8.0per cent fall in imports.
