China’s Exports Fell by 11.2%, Imports Sank by 18.8% in January

China’s exports fell 11.2 percent year-over-year in January, while imports tumbled by 18.8 percent, the country’s General Administration of Customs (GAC) data showed Monday.

BEIJING (Sputnik) – The volume of exports, which in December 2015 contracted by 1.4 percent, amounted to $177.5 billion in January, while imports, which in December fell by 7.6 percent, reached $114.1 billion.

The total volume of foreign trade in January slid to $291.6 billion, which is 14.3 percent less than the same index for 2015.

Decelerating growth rates have plagued the Chinese economy alongside turbulent stock markets and a falling currency. China's economy grew 6.9 percent in 2015, down from 7.3 percent in 2014, amounting to the lowest annual GDP increase in 25 years.