China's Feb exports jump 44.5 %, strongest in 3 years, imports up 6.3 percent

Posted by Daily Shipping Times on 09-03-2018        Tweet

BEIJING: China's exports unexpectedly surged at the fastest pace in three years in February, suggesting its economic growth remains resilient even as trade relations with the United States rapidly deteriorate.

Trade tensions have jumped to the top of the list of risks facing China this year, with proposed U. S. tariffs on steel and aluminium imports suggesting more measures may be on the way, Zhou Hao, senior emerging markets economist at Commerzbank, told the  Global Markets Forum this week.

China's February exports rose 44.5 percent from a year earlier, compared with analysts' median forecast for a 13.6 percent increase, and an 11.1 percent gain in January, official data showed recently.

Imports grew 6.3 percent, the General Administration of Customs said.

Boosted by a global trade boom in 2017, China's exports grew at the fastest pace since 2013 and served as one of the key drivers behind the economy's forecast-beating 6.9 percent expansion last year.