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    QINGDAO TODAY
    在线翻译:
    szdaily -> Business -> 
    Exports tumble the most in three years
        2019-03-11  08:53    Shenzhen Daily

    THE country’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.

    While seasonal factors may have been at play, the weak readings from the world’s largest trading nation added to worries about a global slowdown, a day after the European Central Bank slashed growth forecasts for the region.

    Global investors and China’s major trading partners are closely watching China’s policy reactions as economic growth cools from last year’s 28-year low.

    February exports fell 20.7 percent from a year earlier, the largest decline since February 2016, customs data showed. Economists polled previously had expected a 4.8-percent drop after January’s unexpected 9.1-percent jump.

    Imports fell 5.2 percent from a year earlier, worse than analysts’ forecasts for a 1.4-percent fall and widening from January’s 1.5-percent drop. Imports of major commodities fell across the board.

    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.

    Analysts warn that data from China in the first two months of the year should be read with caution due to business disruptions caused by the Chinese New Year holidays, which came in mid-February in 2018 but started Feb. 4 this year.

    But many China watchers had expected a weak start to the year as factory surveys showed dwindling domestic and export orders.

    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 China has promised to buy more U.S. goods such as agricultural products as part of the trade discussions.

    (SD-Agencies)

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    Shenzhen Daily E-mail:[email protected]

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