BEIJING – China's exports fell sharply last year, official data released on Friday showed, likely to reflect weaker demand and distortions from the moon in the New Year.
Exports tumbled 20.7% from the previous year in February, having jumped 9.1% in January, according to data from the General Administration of Customs. Economists asked by The Wall Street Journal expected the value of foreign shipments to fall 6%.
Imports fell 5.2% after January's 1.5% decline, according to customs data. In the survey, the economists expected a 2.5% decline in Chinese imports.
China's total trade surplus was $ 4.22 billion, which was sharply reduced from the $ 39.1
For In the first two months, China's exports and imports fell by 4.6% and 3.1%, leading to a trade surplus of $ 43.7 billion.
Stripping out the moon's New Year effects, the customs authority said that exports and imports in February increased by 1.5% and 6.5%, respectively, from the previous year.
– Liyan Qi and Grace Zhu