Chinese shoppers and Christmas decorations are reflected in mirrors inside a shopping mall in Beijing Monday, Dec. 10, 2012. China's trade weakened sharply in November, adding to challenges for the world's second-largest economy as a gradual recovery takes shape. Export growth plunged to 2.9 percent over a year earlier from the previous month's 11.6 percent, customs data showed Monday. Imports were flat, down from October's 2.4 percent growth. (AP Photo/Andy Wong)

China's February exports surge but imports fall

Published: 04:11:53 AM, Fri 08 March 2013 UTC

HONG KONG (AP) — China's exports surged more than expected last month in a possible sign of stronger global demand.

Exports leaped 21.8 percent in February, slower than the 25 percent growth recorded in January but still a surprise to economists who had been forecasting single-digit growth for the month. That's because the timing of a major holiday had been expected to crimp shipments.

Imports fell 15.2 percent last month, a sharp turnaround from 28 percent growth in January, according to data released Friday. That suggests weaker domestic demand but the picture is clouded by Lunar New Year holidays.

China's trade growth has been rebounding in recent months in a sign of recovery in the world's second biggest economy.

February had been expected to be weak because the Lunar New Year holiday fell during the month, leaving fewer work days as businesses shut for up to two weeks. Last year the holiday occurred in January, which flattered the performance of trade in the first month of this year.

"We are impressed by China's ability to expand its exports so strongly despite a muted external environment," Darius Kowalczyk, a strategist with Credit Agricole CIB said in a report.

Exports rose to $139.4 billion while imports declined to $124.12 billion, resulting in a trade surplus of $15.2 billion.

Tags: holiday, economy of the people's republic of china, china, world, recovery, data, friday, imports, exports, international trade, supply and demand, percent growth, trade, hong kong, export, business, timing, economists, shipments, surprise, picture, new year holidays, hong kong ap, lunar new, new year holiday, billion while imports, credit agricole cib, strategist, trade surplus, balance of trade, trade growth, fewer work, stronger global demand, crédit agricole, sharp turnaround, single-digit growth, possible sign, weaker domestic demand, muted external environment, darius kowalczyk, major holiday

Close
Loading
Close