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China’s Exports and Imports grow in Double Digits in January-February

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China’s Exports and Imports grow in Double Digits in January-February
07 Mar 2022
7 min read

News Synopsis

Despite a downturn in its economy, China has seen double-digit growth in its exports in January-February. The exports of the company grew by 16.3% over a year earlier to $544.7 billion in the two-month period. Imports of the country also advanced 15.5% to $428.7 billion. The global trade surplus of China rose 12.3% to $115.9 billion.

Chinese authorities combine trade data for the first two months to rule out  Lunar New Year holiday fluctuations that occur at different times in January or February each year. The factory will be closed for up to 2 weeks and will be restocked after reopening.

Exports to the USA rose 13.8% over a year earlier to $91.5 billion despite higher tariffs in a lingering trade war with Beijing. Imports of American goods also rose 8.3% to $31.7 billion, despite an abrupt slide in Chinese economic activity to 4% over a year earlier in the final quarter of 2021, compared with 8.1% for the full year, due to a crackdown on corporate debt.

The politically volatile trade surplus with the USA, one of the factors behind the decision by then-President Donald Trump to raise tariffs on Chinese goods in 2018, widened by 16.7% to $59.8 billion.