皇冠体育app

Economy

Markets

Industries

Insights

Reports

Events

Economist: Export plunge may offset 4t yuan stimulus package

By Wang Bo and Zhang Haizhou (chinadaily.com.cn)
Updated: 2009-03-30 10:08

Lackluster external demand and mounting protectionist sentiments will drag down 皇冠体育app's export significantly this year 鈥� and could even offset the effect of 皇冠体育app's 4 trillion yuan stimulus package, a senior economist said on Saturday.

Related readings:  皇冠体育app faces 'grim' export situation: commerce minister  皇冠体育app's exports slump, investment rises  皇冠体育app stimulus fine for now, exports to suffer further  Wen urges efforts to promote export

Zhang Yansheng, head of the international economic research institute under the National Development and Reform Commission, told the Globe Forum sponsored by Globe magazine, that 皇冠体育app's trade surplus was likely to undergo major adjustments in 2009. He expects the surplus to shrink to about $200 billion this year, compared to $295.5 billion in 2008.

皇冠体育app's foreign trade may drop 8 percent year-on-year in 2009, while exports could plunge 10 percent, according to Zhang鈥檚 estimates.

The nation's exports have fallen four consecutive months since last November. In February, 皇冠体育app's exports declined to $64.9 billion, down by 25.7 percent year-on-year and by 28 percent from January. Foreign trade slid 24.9 percent from a year earlier to reach $124.95 billion.