China suffered its worst decline in exports in more than a decade last month,
underscoring the toll the global recession is taking on the world's
China's customs agency released a report Wednesday
showing the nation's exports in January plunged more than 17 percent from the
year before. Last month's decline was also far worse than the nearly three
percent drop reported in December.
The drop in exports is due to
falling global demand for Chinese products in the face of the current economic
downturn. Scores of export-dependent factories have shut down, leaving an
estimated 20 million migrant workers without jobs.
Imports were even
worse last month, falling more than 43 percent than a year earlier. The
weakening import figures boosted China's global trade surplus to $39 billion in
January, the second biggest month on record.
Beijing unveiled a $586
billion stimulus package late last year, focused mainly on the construction of
public works projects to create more jobs.
Some information for this report was provided by
AFP, AP and Reuters.