China: Exports increase unexpectedly in the first two months of 2024
March 7, 2024
China’s exports registered an unexpected increase in the first two months of 2024, official figures showed on Thursday.
The General Administration of Customs stated that exports increased by 7.1% in January and February combined, reaching a trade surplus of 125 billion dollars (114.7 billion euros).
Commerce Minister Wang Wentao acknowledged the recent recovery on Wednesday on the sidelines of the National People’s Congress in Beijing and stressed that “the general trend is upward.”
A recovery for China’s economy?
This increase has provided some relief to the country as it struggles to revive the world’s second-largest economy following the coronavirus pandemic.
Exports for the two months – combined to avoid distortions due to the Lunar New Year holidays, when many businesses close – were 7.1% higher than the same period last year.
The performance surpassed Reuters forecasts that predicted export growth of just 1.9%. Imports also increased by 3.5%, compared to a forecast growth of 1.5%.
Source: DW
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