China’s exports fell 11.2 percent on-year in January, while imports declined 18.8 percent, clocking far bigger slides than expected by analysts.
Analysts polled by Reuters had expected a 1.9 percent drop in January exports, and a 0.8 percent drop in imports, after China’s exports fell 1.4 percent in December from a year earlier and imports slid 7.6 percent .
China’s trade surplus came in at $63.3 billion in January, against analysts’ expectations of a $58.85 billion surplus.
Separately, yuan-denominated data showed exports fell 6.6 percent in January and imports dropped 14.4 percent from a year ago. That left the country with a trade surplus of 406.2 billion yuan for the month.