First quarterly deficit in seven years

China reported its first quarterly trade deficit in seven years, but analysts said it will not be repeated in the coming months as tighter monetary policies, introduced to combat inflation, slow import growth.

China registered a deficit of $1.02 billion in the first quarter, compared with a surplus of $13.9 billion last year, according to the General Administration of Customs.

This is the first deficit since the first quarter of 2004 when a deficit of $8 billion was reported.

Read more at First quarterly deficit in seven years

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