Mubasher TV
Contact Us Advertising   العربية

Chinese exports drop sharply in February

Chinese exports drop sharply in February

Mubasher: China on Friday posted a sharp decline in its exports during February, aggravating headwinds for the world’s second biggest economy, as Beijing struggles to rein in a slowdown.

Dollar-denominated exports tumbled 20.7% in last February year-on-year, after climbing 9.1% in January, data from the General Administration of Customs showed on Friday.

Meanwhile, imports into China fell 5.2% last month from a year ago, after declining 1.5% in the preceding month.

Chinese trade balance in February came in at $4.12 billion, compared with $39.16 billion in January.

The politically sensitive trade surplus with the US shrank to $14.72 billion during the month, compared with $27.3 billion in the prior month, as imports dropped 28.6%, while exports fell 26.2%.

The disappointing trade figures pointed to faltering global demand and distortions from the Lunar New Year holiday, analysts told MarketWatch.

This was no surprise for investors who have been expecting an economic slowdown globally and in China, Eastspring Investments director and client portfolio manager Sarah Lien told CNBC.

Analysts have been warning against a looming weakness in Chinese exports, despite last year’s resilient overall economic data out of the country.