China Trade Rebounds in January

China’s foreign trade continued to rebound strongly in January due to more working days last month and a stabilized economic situation, customs data showed Friday.

China’s foreign trade surged 26.7 percent year on year to 2.17 trillion yuan (345.59 billion U.S. dollars) in January, according to data from the General Administration of Customs (GAC).

The rise was bigger than the 10.2-percent growth seen in December.

Exports increased 25 percent from one year earlier in January, the fastest pace since April 2011 and up from December’s 14.1-percent rise. Imports rose 28.8 percent, a jump from the 6-percent pace from December.

In January, the foreign trade surplus widened 7.7 percent to 183.21 billion yuan, data showed.

“A lower comparative base last year caused by fewer working days has helped push up the growth rate this year,” said Li Jian, a foreign trade expert from a research institute at the Ministry of Commerce (MOC).

via Xinhua

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza