China’s exports fell in February and imports also weakened due to the Lunar New Year shutdown and continued uncertainty from the trade war.
Exports dropped 20.7 percent to $135 billion in February while imports fell 5.2 percent, the customs administration said Friday. Economists forecast both exports and imports would shrink, although not by as much. That left a trade surplus of $4.12 billion.
It’s the biggest slump in exports since February 2016. Like this year, the week-long holiday fell earlier in the month in 2016 than it had in the prior year. That means orders are ramped up in January to beat the factory closures.
Averaged across January and February to smooth out the holiday effect, exports declined 4.7 percent from the same period in 2018.
Source : Bloomberg