China exports spike to highest in 2 years after COVID-19 hit
09 March, 2021
China's export expansion jumped to the best in over two decades, official data showed Sunday, with imports also surging in a good sharp bounceback from the coronavirus outbreak that had brought activity to a good near halt.
Consumer electronics and textile exports such as for example masks contributed to the spike found in outbound shipments, seeing that demand for work-from-home supplies and protective equipment against the virus outbreak soared through the pandemic.
Exports spiked 60.6 percent on-year in the January-February period, above analysts' expectations and boosted by electronics and mask shipments, while imports rose 22.2 percent, official data showed Sunday.
The most recent customs figures stand in stark contrast to last year's fall of around 17 percent in exports and 4 percent drop in imports.
The country struggled to support the spread of COVID-19 in early stages, with consumers staying residence and businesses seeing a slow go back to operations.
The comparison to this past year is also more likely to have bolstered the most recent figures.
China's overall trade surplus came found in in $103.3 billion, its customs administration said.
Chinese authorities started combining January and February trade info last year, although it battled the coronavirus outbreak.
This is consistent with how some other indicators are released, to smooth over distortions from the Lunar New Year holiday, which can fall in either month.
On Sunday, official info showed that electronics exports rose 54.1 percent, while textiles including masks rose 50.2 percent.
Source: japantoday.com