Chinese exports suffer shock 15% decline

China’s export sales contracted 15% in March, a shock outcome that deepens concern about sputtering Chinese economic growth.

The tumble in exports — the worst in about a year — compared with expectations for a 12% rise and could heighten worries about how a rising yuan has hurt demand for Chinese goods and services abroad, analysts said. The yuan’s strength was one factor in March’s 19.1% year-on-year decline in exports to the EU and 24.8% drop to Japan.

In a sign that domestic demand was also tepid, imports into the world’s second-biggest economy shrank 12.7% last month from a year ago, the General Administration of Customs said yesterday. By volume, coal imports plunged more than 40% in January-March. The March fall in imports was in line with forecasts, unlike the one for exports.