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China’s Exports Zoom, Trade Surplus Rises
China’s exports jumped 45% to nearly $172 billion in February—four times the expansion rate in January, according to customs data.
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China’s exports jumped 45% year on year to nearly $172 billion in February—four times the expansion rate in January, according to customs data. Growth in imports slowed to 6% from 37% in the previous month, resulting in a $33.7 billion trade surplus.
The single-month figures are distorted by variations in the date of the Lunar New Year holiday. Combined January-February results, which present a more meaningful picture, show exports rising by 24% over the same two-month period last year, and 11% compared with December.
China’s combined global surplus for January-February grew 31% year on year to $55.3 billion.
The country’s reported surplus with the U.S. last month was $20.9 billion. The growing imbalance has already prompted the Trump administration to raise import tariffs on Chinese goods such as solar panels and washing machines.
The Associated Press notes that further sanctions appear likely. Some may result when the White House announces results of an investigation into Chinese demands that foreign companies turn over technology know-how in exchange for access to the country’s markets.
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