(Yicai Global) April 14 -- China's trade surplus fell 81 percent to CNY98.3 billion (USD14 billion) in the first three months from a year earlier, dimmed by the economic fallout from the coronavirus epidemic, the General Administration of Customs revealed today.

Yicai Global surveyed 24 chief economists at major Chinese financial institutions who predicted on average an improvement in the first-quarter trade surplus of about USD14.62 billion, compared with a deficit of USD7 billion in the first two months.

Overall trade was about CNY6.6 trillion, down 6.4 percent in the first three months, including exports of CNY3.33 trillion, down 11.4 percent, and CNY3.24 trillion in imports, which dipped 0.7 percent.

The economists surveyed projected a 16.6 percent drop in export volume and a 11.3 percent fall in imports during the period.

Total trade was CNY2.45 trillion (USD350 billion) last month, down almost 1 percent in an improvement from the 9.5 percent drop during the first two months. Exports were at CNY1.29 trillion, down 3.5 percent, while imports stood at CNY1.16 trillion, up 2.4 percent.

Editor: Ben Armour