China's Exports Surge In February
March 07 2018 - 10:40PM
RTTF2
China's exports increased sharply in February ahead of the Trump
administration imposing tariffs on steel and aluminum imports,
raising fears of a trade war.
Data from the General Administration of Customs showed that
exports jumped 44.5 percent year-over-year in February, much bigger
than the 11.0 percent rise economists had forecast.
Imports climbed 6.3 percent in February from a year ago, slower
than the expected growth of 8.0 percent.
The trade surplus totaled $33.7 billion in February, in contrast
to the forecast of $5.7 billion shortfall and well above January's
$20.3 billion surplus.
The trade surplus with the U.S. narrowed to $20.96 billion in
February from $21.9 billion in January.
Earlier this month, the U.S. had imposed 25 percent tariff on
imported steel and 10 percent on imported aluminum.
In yuan terms, China's exports surged 36.2 percent annually,
while imports fell 0.2 percent in February. As a result, the trade
surplus totaled CNY 224.8 billion.
The surge in export growth last month largely reflects the
shifting timing of the Chinese New Year, Julian Evans-Pritchard, an
economist at Capital Economics, said. The economist said US
protectionism risk clouds the outlook.
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