China exports surge in February

 
City A.M. Reporter

CHINA exports rose more than expected in February, in a sign that the country's modest economic revival is intact and suggesting global demand may also be on the mend.

According to data out this morning, exports rose 21.8 per cent in February from a year earlier and were 20.6 per cent higher on a calendar adjusted basis. Exports growth to the US was the strongest in a year and to the Eurozone, it was the highest in 18 months.

Although analysts warned that the data may be skewed due to China’s long Lunar New Year holiday, the strength in exports is apparent even when January and February performances are combined.

Exports for the two months combined rose 23.6 per cent, while imports increased five per cent, the customs office said. That compared with expectations for rises of 17.6 per cent and 10.0 per cent, respectively.

However, Chinese imports were surprisingly weak, falling 15.2 per cent from a year earlier to 13 month lows.