Chinese exports, imports fell in June

BEIJING, July 10 (UPI) -- China's General Administration of Customs said Friday that exports and imports have both fallen dramatically in the past 12 months.

Exports in June reached $95.41 billion, following an export total of $88.8 billion in May. But, exports are off 21.4 percent from June of 2008, the government reported.

Imports have dropped 13.2 percent over the past year to $87.16 billion.

The global recession has slowed demand for Chinese goods. In October, Chinese exports reached $128 billion, Xinhua reported.

"The basic idea I can tell is from January to June the trade data fell year-on-year, but in June the decline narrowed," said Chen Jian, a deputy commerce minister.

In May, exports fell a record 25.2 percent over a 12-month period.

Foreign investment in China has also dropped, falling for a record eight consecutive months in May, the newspaper said.