The volume of Chinese exports has dropped by a quarter.

Volume of China's exports in February 2009 decreased by 25,7 percent compared to the same period a year earlier. This writes the newspaper The Daily Telegraph, referring to the data of Customs of China. At the end of the month China exported goods amounting to 64.9 billion dollars.
The volume of imports decreased by 24,1 percent to 60,1 billion dollars. At the same time imports in China dropped the fourth month in succession. January reduction rate was 17.1 per cent over the same period in 2008.
Surplus of trade balance of China in February 2009 amounted to 4,84 billion dollars. Compared with January of this year, when the country's trade surplus was about $ 40 billion, the figure dropped by more than eight times.
The decrease in exports due to the continuing decline in demand for Chinese goods from the U.S. and the EU.
Recall that the earlier volumes of China's exports grew by an average of 20 percent annually, but since the fall of 2008 began to decline. In November last year, Chinese exports fell by 2.2 percent in December - to 2.8 percent. By some estimates, in 2009, growth in exports of Chinese goods may become zero.
In order to support the export of the Chinese Government in 2008, twice reduced the taxes on exports. Now tax breaks on more than five thousand kinds of Chinese products.
Growth of China's economy is largely dependent on exports. The continued decline of this index started to slow down the pace of GDP growth, which projected the Government of China in 2009 increased by eight percent. For comparison, on the basis of 2008 China's economic growth was 9 percent, and 2007-th - 13 per cent.