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China’s February exports dropped sharply by 25.4% from a year earlier, while imports fell 13.8%.

The weak data comes on the heels of Beijing registering the slowest economic growth in 25 years.

China’s National People’s Congress, currently underway in the capital, has just revised the 2016 growth target down, predicting a “battle for growth”.

Photo Xinhua

Photo Xinhua

The last month trade figures are likely to raise new fears over China struggling to maintain economic growth while implementing reforms and trying to shift towards more services and domestic spending.

Customs figures showed exports fell to $126.1 billion in February. That was down 25.4% from a year earlier and worse than an expected fall of about 15%.

The poor trade data marks the worst performance since the height of the global financial crisis in May 2009.

However, analysts cautioned that the data might have been affected by the longer-than-usual Chinese Lunar New Year holidays.

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China’s imports fell a more-than-expected 17.7% in yuan-denominated terms in September 2015, while exports fell 1.1% from a year earlier, official figures show.

The new figures leave China with a trade surplus of 376.2 billion yuan ($59.4 billion).

The steep fall in imports compares with a fall of 14.3% in August and continues to reflect lower commodity prices globally.

China recently revised down its 2014 economic growth from 7.4% to 7.3%.

The revision marks its weakest growth for almost 25 years. After decades of double-digit growth, the government is expecting to see growth of about 7% in 2015.China imports September 2015

China is attempting to shift from an export-led economy to a consumer-led one.

Exports in September held up better than expected, after some had forecast a fall of as much as 7%.

However, the significant fall in imports means domestic demand is not as strong as the government would have hoped.

China’s official trade numbers in US dollar denominated terms were reported shortly after the yuan-denominated numbers.

They showed exports fell a less-than-expected 3.7% in September, while imports slumped 20.4% from a year earlier. The numbers leave the country with a surplus of $60.34 billion for the month – which the government said was higher than expected.

Currency conversion factors based on US dollar and Chinese yuan movements over the last year mean some official numbers from the mainland are now reported in both currencies.

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According to latest trade figures, China’s August imports fell 14.3% in yuan-denominated terms from a year ago, while exports fell by 6.1%.

The steep fall in the value of imports reflects lower commodity prices globally, particularly crude oil.

The numbers mean China’s monthly trade surplus expanded by close to 40% from the month earlier to 368 billion yuan ($57.8 billion).China imports August 2015

China recently revised down its 2014 economic growth from 7.4% to 7.3%, its weakest for almost 25 years.

In US dollar denominated terms, exports for the month of August fell 5.5% from a year earlier – slightly less than expected – while imports fell by 13.8%, leaving China with a surplus of $60.24 billion.

Currency conversion factors based on US dollar and Chinese yuan movements over the last year mean some official numbers from the mainland are now reported in both currencies.

A fall in both import and export figures had been expected as China’s economy slows, though analysts said the drop in imports was greater than forecast.

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