China exports surging
February 10, 2017
Chinese shipments abroad increased more than forecast in January, the Customs Office announced Friday.
It said exports jumped by 7.9 percent year on year to $182.8 billion (171.6 billion euros), reversing December's 6.1-percent plunge.
Imports also exceeded expectations, rising by 16.7 percent to $131.4 billion. The trade surplus climbed to $51.3 billion.
Trouble ahead?
Chinese trade values have been picking up in recent months thanks to a revival in global manufacturing, the continued strength of China's domestic economy and the rebound in global commodity prices," Capital Economics analyst Julian Evens-Pritchard said in a statement.
The January export figures could be a precursor to frictions with Washington as US President Donald Trump accused Beijing of currency manipulation to give Chinese exporters a trade advantage, while he also threatened to impose huge tariffs on Chinese imports.
China's exports to the US rose by 6.2 percent in January year on year. The US is China's largest export market, accounting for 18.5 percent of its total shipment abroad.
hg/jd (AFP, Reuters)