China's trade surplus fell in Q1 2017

Updated 2017-04-14 12:30:45 CGTN

China's trade surplus shrank by more than a third as exports rose at a slower pace than imports, data from the General Administration of Customs released on Thursday showed.

Foreign trade as a whole rose by more than a fifth to 6.2 trillion yuan (902.47 billion US dollars) in the first quarter of 2017.

The value of the nation's exports rose by 14.8 percent to 3.33 trillion yuan (nearly 484.71 billion US dollars) and imports were up 31.1 percent to 2.87 trillion yuan (417.76 billion US dollars).

As a result, China's trade surplus, which means the country sells more products overseas than it buys, shrank by 35.7 percent to 454.94 billion yuan (66.95 billion US dollars).

Among the strongest drivers of growth of both imports and exports was increased trade with countries involved in the China-led Belt & Road Initiative.

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