At the beginning of the year, China’s exports remained in decline, a reflection of the difficulties the world economy presented Beijing in setting ambitious development targets.
The General Administration of Customs announced that exports decreased 6.8 percent between January and February of last year.
The annual decline was lower than the 9.9 percent drop reported in December and better than the 9.4 percent fall predicted by analysts.
Despite the economy being back open, imports experienced a double-digit decline from January to February of 10.2 percent, which was worse than the 7.5 percent drop from December and the anticipated 5.5 percent fall.
As a result, the trade balance was in surplus, coming in at about $117 billion, far exceeding the estimate of $81.8 billion.
For the purpose of avoiding distortions brought on by the Lunar New Year holiday, the customs office typically combines statistics for January and February.
Source: RTT News
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