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April 17, 2023

Export performance in January-February was better than expected

According to data released by the General Administration of Customs on Tuesday, in terms of US dollars, China`s exports from January to February fell by 6.8% year-on-year, a decrease of 3.1 percentage points from December; imports fell by 10.2% year-on-year, a decline of 2.7 percentage points from December. From January to February, the trade surplus was US$116.89 billion.

Exports performed better than expected in January-February, while imports were weaker than expected. The average forecast of 7 analysts collected by Wind shows that from January to February, exports fell by 8.3% year-on-year, and imports fell by 3.3% year-on-year.

Analysts said that the shrinking demand in Europe and the United States is still an important factor suppressing exports. In addition, the high base in the same period last year also dragged down this year's export growth to a certain extent. From January to February 2022, China's export value increased by 16.3% year-on-year.

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