In February, China's foreign trade registered impressive growth rate of 10.6 percent compared to the previous year.
According to data released by General Administration of Customs on March 10, during the month, total value of China's import and export was US $200.78 billion, of which exports contributed US $96.74 billion with 2.4 percent growth rate while imports' share was US $104.04 billion, a very impressive 19.4 percent increase. Thus trade deficit between imports and exports was US $ 7.3 billion.
From January to February, China's export growth rate was 21.3 percent while imports increased 36 percent with a US $890 million trade deficit. For that period, trade deficit was significantly higher than market expectations and was expected to narrow down in February. But in February, because of Chinese New Year vacation, pace of export growth slowed down significantly and trade deficit increased.
It was expected that China would register trade surplus with increased exports in February. Now the best hope is to narrow down surplus from January level. As per surveys, economists had expected the trade surplus in February to be US $4.38 billion.
Fibre2fashion News Desk - China
20240830145952.gif)
20240924091343.png)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
