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China Trade Surplus Hits Record in February

China’s monthly trade surplus hit a record $60.6bn (£40.3bn) in February, as exports grew and imports slid back.

Exports were up 48.3% year on year to $169.2bn, and imports dropped by a fifth to $108.6bn, said the country’s General Administration of Customs.

The growth in exports was well ahead of analyst expectations.

China’s economy grew by 7.4% in 2014, its weakest for almost a quarter of a century, and recent indicators show signs the slowdown is continuing.

Customs officials put the surge in exports down to a flurry of activities by companies to get orders processed before the Chinese New Year, which fell in the middle of February this year.

“Affected by the Spring Festival factors, export companies in the country again rushed to export ahead of the holiday and only resumed working after it,” a statement said.

The surplus figure stood at $8.9bn in the same period last year.

But he Lunar New Year had fallen on 31 January in 2014, followed by a week-long national holiday, which meant it provided a weak comparison with this February.

For the first two months of the year, China’s trade surplus has totalled $120.7bn, following the $60bn surplus in January.

via BBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
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
Alfonso Esparza

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