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China’s exports jump, imports decline in February

by ChemOrbis Editorial Team -
  • 10/03/2015 (13:59)
According to data released by China’s General Administration of Customs, the country’s exports surged in February while imports declined. The data showed that exports jumped 48.3% in February to post the strongest figure since May 2010. Economists’ initial estimates called for a 14.2% increase. However, economists’ cautioned that the sharp increase in February was led by seasonal distortions.

In February, exports to the United States, which is China’s largest export market, surged 48.5% compared with the same month of 2014 while exports to the Europe Union rose 44.1%.

The data also showed that the country’s imports declined 20.5% in February, posting the sharpest decline since 2008. Economists commented that weaker imports may signal a further slowdown in economic growth.

The Chinese government lowered their economic growth target for 2015 to around 7% compared with growth rate of 7.4% posted in 2014, which was slightly below the government’s 2014 economic growth target of 7.5%.
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