China records trade deficit
By WANG XIAOTIAN | China Daily | Updated: 2010-04-12 08:14
Country sees negative balance after six years
BEIJING - China reported its first monthly trade deficit in six years in March, mainly due to surging import volumes and rising commodity prices.
Exports surpassed $112 billion in March, up 24 percent year on year, while imports increased by 66 percent to more than $119 billion, resulting in a trade deficit of over $7.2 billion, according to figures released by the General Administration of Customs (GAC) on Saturday.
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