Skyrocketing imports drive China to Q1 trade deficit

04/10/2011 | Bloomberg · China Daily (Beijing)

The value of China's imports exceeded exports in the first quarter, giving the nation its first quarterly trade deficit in seven years, the government said. For the quarter, China had a $1.02 billion deficit, compared with a $13.9 billion surplus in first quarter last year. The cost of imported products rose 32.6%, led by crude oil and iron ore.

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Bloomberg · China Daily (Beijing)

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