Chinese exports, imports advance in Jan-Feb
Data from China’s customs agency showed that the country’s exports recorded an impressive 60.6% year-on-year jump from January to February. Imports also expanded, tallying a 22.2% growth from last year’s weak levels.
The exports’ current reading stood larger than the 38.9% expansion predicted by analysts in a Reuters poll. This expectation was rendered after the country saw an 18.1% increase in December. Similarly, imports breached forecasts, placing higher than the 15% jump expected in the survey.
China posted a trade surplus of $103.25 billion from January to February. Analysts who participated in the survey had expected the surplus to narrow to $60.00 billion from a $78.17 billion record seen in December.
China’s customs authority started merging January and February data last year in a bid to smooth discrepancies caused by the Lunar New Year.