China's exports tumbled the most in three years in February while imports fell for a third straight month, pointing to a further slowdown in the ...
BEIJING: China's exports tumbled the most in three years in February while imports fell for a third straight month, pointing to a further slowdown in the economy despite a spate of support measures.
February exports fell 20.7 percent from a year earlier, the largest decline since February 2016, customs data showed. Economists polled by Reuters had expected a 4.8 percent drop after January's unexpected 9.1 percent jump. That left the country with a trade surplus of US$4.12 billion for the month, much smaller than forecasts of US$26.38 billion.
China's data on Friday showed its surplus with the United States narrowed to US$14.72 billion in February from US$27.3 billion in January, and it has promised to buy more U.S. goods such as agricultural products as part of the trade discussions. At the same time, global demand has been weakening, particularly in Europe. China's exports to all of its major markets fell across the board last month.
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