2010.07.2002:41:00UTC+00Chinese Export Growth Likely To Ease In H2: Commerce Ministry

Chinese export growth is likely to ease in the second half of 2010, due to high base effects and decrease in demand from eurozone, the Ministry of Commerce reported Tuesday. Furthermore, emerging economies including India and Brazil tightened their monetary policies.

The ministry noted that sovereign debt crisis in many European economies will ultimately reduce consumption and investment. Commerce Ministry spokesman Yao Jian said exports of labor-intensive products to Europe are likely to remain stable despite debt crisis.

Exports are expected to expand around 16.3% in the second half of this year, the State Information Center said in a report on Monday. Export growth for the full year is seen at 24.5%.

Exports had increased 35.2% in the first half of 2010. Data released by the General Administration of Customs, earlier this month, showed a 43.9% increase in exports in June from the previous year. At the same time, imports jumped 34.1%.

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