May 2, 2020

China’s Total Service Trade In The First Quarter Fell By 10.8%

According to data from the Ministry of Commerce, China’s total service trade in the first quarter fell 10.8% year-on-year to 1.15 trillion yuan ($ 162.82 billion).

The Ministry of Commerce stated on May 2 that from January to March, the export value of the service industry decreased by 4.1% to 444.28 billion yuan, while the import value decreased by 14.5% to 708.02 billion yuan.

It said that the narrowing of the trade deficit that began last year continues.

Knowledge-intensive services account for more than 40% of the total. -Bloomberg



source: https://www.thestar.com.my/news/regional/2020/05/02/chinas-total-services-trade-down-108-in-q1

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