CHINA’S largest trade fair recorded a drop in transaction value and the number of buyers visiting during its spring session, underscoring the tough outlook facing exporters.

    The Canton Fair, a gauge of China’s economy and foreign trade conditions, said total exports amounted to 172.1 billion yuan (US$27.8 billion) for the spring session, down 9.6 percent from the same period in 2014 and a 3.96 percent decline from the previous fair in November.

    Total exports have been falling for four sessions in a row, Xinhua said, while more than half the exporters in a survey expect the trade slowdown to last at least six months as production costs climb and European demand weakens.

    The number of buyers attending the fair fell 0.7 percent from the previous session to 184,801. Buyers from Europe showed the biggest drop of 17.88 percent from a year earlier to 30,383, representing 16.44 percent of the total.

    China has been the world’s biggest exporter since 2009, but its dominance is under threat as its currency strengthens, labor costs rise and authorities move away from an excessive reliance on exports.

    The Canton Fair, which began April 15 in Guangzhou, provincial capital of Guangdong, takes place soon after economic data showed China’s exports unexpectedly fell 15 percent in March and its economy grew at the slowest pace in six years in the first quarter.

    That slow growth and weakness in key sectors suggested China’s economy was still losing momentum, intensifying the government’s struggle to find the right policy mix to shore up activity. (SD-Agencies)