BEIJING, July 10 China's trade outlook is
deteriorating as exporters lose confidence in the face of weak
external demand, rising labour costs and a stronger yuan
currency, the country's customs department said on Wednesday.
The comments came after China's exports fell 3.1 percent in
June from a year earlier, the first decline since January 2012
and well below market expectations, reinforcing signs of a
economic slowdown in the world's second-largest economy.
Economists had expected exports to grow 4.0 percent and
imports to rise 8.0 percent last month.
Customs spokesman Zheng Yuesheng said June's trade figures
may more accurately reflect the true picture of China's export
performance after the government began a crackdown on an
exporters' practice of booking speculative inflows as trade
deals, which had inflated export figures earlier this year.
"Exports in the third quarter look grim," said Zheng, noting
that 49.2 percent of respondents in the bureau's monthly survey
for June saw a drop in the value of new export orders and 43.8
percent were not optimistic about their exports in the next two
to three months.
The survey also found that 69.1 percent of the exporters
complained about rising costs overall, 70.5 percent noted rising
labour costs and 59.8 percent complained about a rising yuan
hurting their businesses.