China exports jump 60.6% y/y in January-February, imports up 22.2%
China’s exports jumped 60.6% in January-February from a year earlier and imports increased 22.2%, faster than expected from depressed 2020 levels, customs data showed on Sunday, Trend reports citing Reuters.
Analysts in a Reuters poll had expected exports to surge 38.9% from a year earlier after 18.1% growth in December. They had forecast a 15% jump in imports after a 6.5% increase in December.
China posted a trade surplus of $103.25 billion for the two months. Analysts in the poll had expected the surplus to narrow to $60.00 billion from $78.17 billion in December.
China’s customs authority began combining January and February data in 2020 to smooth distortions caused by the Lunar New Year, which can fall in either month.