China’s export growth accelerated sharply in the first two months of this year, defying last year’s high base while experts pointed to the likelihood of strong momentum for the rest of the year.
Exports rose by 21.8 per cent from a year earlier to US$656.58 billion in the combined figures for January and February released by the customs administration on Tuesday.
This represented a huge jump from the 6.6 per cent growth recorded in December and the 5.5 per cent climb recorded for all of last year.
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Imports for the first two months rose by 19.8 per cent from a year earlier, accelerating from December’s 5.7 per cent growth.
Last year’s 5.5 per cent growth propelled the annual value of China’s exports to US$3.77 trillion, according to customs data, with the surge in exports contributing to a record merchandise trade surplus of US$1.19 trillion.
More to follow …
