Exports from China increased 16.4 percent from the previous year in March, while imports grew 20.3 percent, reversing a rare trade deficit in February, according to recent data from the country’s General Administration of Customs.
Source: William Potter / Shutterstock.com
Exports from China increased 16.4 percent in March 2017 compared with the previous year, while imports grew 20.3 percent.
Trade figures out of China crushed market analyst expectations in March 2017, according to recent data from the country’s General Administration of Customs.
Exports from China increased 16.4 percent for the month compared with the previous year, while imports grew 20.3 percent.
Analysts had expected March exports rose 3.2 percent year-over-year following a “surprise” 1.3 percent decline in February, and imports to grow 18.0 percent after a massive 38.1 percent bump the previous month, according to a report from Reuters.
The trade figures left China with a trade surplus of $23.93 billion for the month, reversing a rare deficit in February. Analysts polled by Reuters had expected China to return to a surplus of $10.0 billion in March compared with the $9.15 billion deficit in February.
The latest figures come after U.S. President Donald Trump met with Chinese President Xi Jinping and earlier this week said he would not label the country a currency manipulator in an apparent about-face from his campaign rhetoric.