China's exports are drooping again
China’s exports shrank 1.8% in April compared to the same month a year ago, an indication that the nation's economic slump continues.
The fallback to $172.7 billion in exports in April follows a burst of growth in March, when they were up 11.5% compared to the same month in 2015, the Associated Press reports based on customs data released Sunday.
Imports into China didn't fare any better in April, down 10.9% to $127.2 billion. They were down 13.8% in March.
China's Communist Party leaders have been trying to foster more domestic consumption to keep the economy growing at a healthy rate, decreasing the dependence on exports. Last year, trade was growing at double-digit rates. in the first four months of the year, exports had fallen 7.6% and imports were off 12.8%.
The Chjnese government has been trying to stimulate the economy to boost not only exports, but domestic consumption as well.
Still, even though China's overall economic growth is is at a seven-year low, it still is growing at a rate that would be the envy of many nations: 6.7% in the first quarter. And it managed to rack up a $45.5 billion trade surplus in April, including $18.1 billion with the U.S.