China’s trade surplus hit a fresh record high last month, as strong demand from the US lifted exports while sharp drops in commodity prices shrunk the value of imports.
The lunar new year holiday, which fell in late February this year, always distorts Chinese trade data, meaning that figures for the first two months give a better picture of the country’s economic performance. Exports rose 15 per cent in the first two months of the year, while the value of imports fell 20 per cent.
“I don’t think 15 per cent export growth can be sustained. But on balance, it looks like a fairly decent performance,” said Tom Orlik, chief Asia economist for Bloomberg Intelligence.
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